Exchange Traded Concepts LLC Has $918,000 Holdings in Federated Hermes, Inc. $FHI

Exchange Traded Concepts LLC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,712 shares of the company’s stock after acquiring an additional 396 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Federated Hermes were worth $918,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FHI. Deutsche Bank AG boosted its stake in Federated Hermes by 38.5% during the 1st quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock valued at $987,000 after purchasing an additional 6,734 shares during the period. Meritage Portfolio Management raised its holdings in shares of Federated Hermes by 100.7% in the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after buying an additional 11,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes during the 1st quarter valued at $2,584,000. Ritholtz Wealth Management acquired a new stake in Federated Hermes during the 1st quarter valued at $1,283,000. Finally, LPL Financial LLC increased its stake in shares of Federated Hermes by 373.9% in the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock valued at $3,729,000 after buying an additional 72,173 shares during the period. Institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FHI. Royal Bank Of Canada increased their target price on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $40.00 to $54.00 in a report on Monday, August 4th. Evercore ISI upped their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.17.

Federated Hermes Stock Down 0.1%

Shares of NYSE:FHI opened at $52.38 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $51.66 and a 200 day simple moving average of $44.91. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The firm has a market cap of $4.06 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.70 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. Analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s dividend payout ratio (DPR) is currently 30.16%.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.