Janney Montgomery Scott LLC bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, according to its most recent filing with the SEC. The fund bought 85,487 shares of the company’s stock, valued at approximately $1,839,000. Janney Montgomery Scott LLC owned 0.09% of Federated Hermes at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in FHI. Vanguard Group Inc. purchased a new position in Federated Hermes during the 2nd quarter valued at about $222,073,000. Schneider Downs Wealth Management Advisors LP purchased a new position in Federated Hermes during the 3rd quarter valued at about $126,735,000. Great West Life Assurance Co. Can purchased a new position in Federated Hermes during the 2nd quarter valued at about $115,510,000. Bank of New York Mellon Corp purchased a new position in Federated Hermes during the 2nd quarter valued at about $53,484,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Federated Hermes during the 2nd quarter valued at about $38,838,000. Institutional investors and hedge funds own 79.13% of the company’s stock.
Shares of FHI stock opened at $26.46 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.71 and a current ratio of 2.43. The company has a market capitalization of $2.63 billion, a P/E ratio of 8.56, a PEG ratio of 0.67 and a beta of 1.17. The stock has a 50 day moving average price of $25.04 and a two-hundred day moving average price of $23.83. Federated Hermes, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $38.26.
The firm also recently announced a None dividend, which was paid on Friday, November 13th. Investors of record on Friday, November 6th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Thursday, November 5th. This represents a dividend yield of 4.4%. Federated Hermes’s dividend payout ratio is presently 40.15%.
Several research analysts have recently commented on FHI shares. Royal Bank of Canada boosted their price objective on Federated Hermes from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Bank of America upped their target price on Federated Hermes from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. TheStreet raised Federated Hermes from a “c+” rating to a “b-” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. lowered Federated Hermes from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $29.00 in a research note on Friday, October 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Federated Hermes from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Monday, October 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.17.
In other Federated Hermes news, EVP Peter J. Germain sold 3,179 shares of the stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $28.33, for a total value of $90,061.07. Following the completion of the transaction, the executive vice president now owns 153,997 shares in the company, valued at $4,362,735.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John B. Fisher sold 8,136 shares of the stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $28.33, for a total value of $230,492.88. Following the completion of the transaction, the vice president now owns 540,530 shares of the company’s stock, valued at approximately $15,313,214.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,196 shares of company stock valued at $515,721. 5.20% of the stock is owned by corporate insiders.
Federated Hermes Profile
Federated Hermes, Inc is a publicly owned asset management holding company. 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.
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