Fortis Advisors LLC Has $1.51 Million Holdings in Federated Hermes, Inc. $FHI

Fortis Advisors LLC grew its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 64.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,025 shares of the company’s stock after buying an additional 11,350 shares during the quarter. Fortis Advisors LLC’s holdings in Federated Hermes were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its stake in Federated Hermes by 2,427.2% in the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after acquiring an additional 506,500 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Federated Hermes by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 35,833 shares of the company’s stock valued at $1,861,000 after purchasing an additional 491 shares during the last quarter. LSV Asset Management boosted its holdings in Federated Hermes by 22.1% in the third quarter. LSV Asset Management now owns 2,401,001 shares of the company’s stock worth $124,684,000 after purchasing an additional 434,859 shares in the last quarter. Cibc World Market Inc. increased its position in Federated Hermes by 0.3% during the third quarter. Cibc World Market Inc. now owns 115,930 shares of the company’s stock worth $6,020,000 after buying an additional 331 shares during the last quarter. Finally, Caprock Group LLC bought a new position in Federated Hermes during the third quarter valued at about $434,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FHI has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Argus upgraded shares of Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target of $55.00.

Federated Hermes Trading Down 2.1%

Shares of Federated Hermes stock opened at $54.87 on Friday. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $56.68. The company’s fifty day simple moving average is $53.38 and its 200-day simple moving average is $52.02. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.54 and a beta of 0.74. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. The firm had revenue of $482.83 million during the quarter, compared to the consensus estimate of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, February 6th. Federated Hermes’s payout ratio is currently 26.46%.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.