Schneider Downs Wealth Management Advisors LP Trims Holdings in Federated Hermes, Inc. (NYSE:FHI)

Schneider Downs Wealth Management Advisors LP cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,460 shares of the company’s stock after selling 11,454 shares during the quarter. Federated Hermes makes up about 0.6% of Schneider Downs Wealth Management Advisors LP’s holdings, making the stock its 28th biggest holding. Schneider Downs Wealth Management Advisors LP’s holdings in Federated Hermes were worth $3,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHI. State of Alaska Department of Revenue lifted its stake in Federated Hermes by 3.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock valued at $336,000 after acquiring an additional 275 shares during the period. Amalgamated Bank lifted its stake in shares of Federated Hermes by 1.0% in the 4th quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock worth $1,341,000 after purchasing an additional 313 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares during the period. MBM Wealth Consultants LLC raised its stake in Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock worth $306,000 after acquiring an additional 474 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Federated Hermes by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock worth $914,000 after acquiring an additional 560 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Trading Down 0.5 %

Shares of FHI opened at $38.11 on Thursday. The company has a 50 day simple moving average of $39.27 and a two-hundred day simple moving average of $38.53. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The firm has a market cap of $3.12 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, equities analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FHI shares. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada decreased their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Evercore ISI set a $44.00 target price on shares of Federated Hermes in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Federated Hermes presently has a consensus rating of “Hold” and an average price target of $42.17.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by insiders.

Federated Hermes Profile

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.