Fulcrum Asset Management LLP Acquires 166,518 Shares of Federated Hermes, Inc. $FHI

Fulcrum Asset Management LLP boosted its holdings in Federated Hermes, Inc. (NYSE:FHI) by 369.4% during the third quarter, HoldingsChannel.com reports. The fund owned 211,596 shares of the company’s stock after purchasing an additional 166,518 shares during the period. Federated Hermes accounts for 0.6% of Fulcrum Asset Management LLP’s portfolio, making the stock its 22nd largest holding. Fulcrum Asset Management LLP’s holdings in Federated Hermes were worth $12,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FHI. First Trust Advisors LP lifted its stake in Federated Hermes by 5.6% during the first quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after purchasing an additional 32,810 shares during the period. Principal Financial Group Inc. boosted its holdings in Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock valued at $9,240,000 after purchasing an additional 6,045 shares in the last quarter. Kendall Capital Management grew its stake in shares of Federated Hermes by 7.7% in the 3rd quarter. Kendall Capital Management now owns 131,570 shares of the company’s stock valued at $7,417,000 after purchasing an additional 9,460 shares during the period. Congress Asset Management Co. grew its stake in shares of Federated Hermes by 21.2% in the 3rd quarter. Congress Asset Management Co. now owns 102,693 shares of the company’s stock valued at $5,789,000 after purchasing an additional 17,992 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Federated Hermes by 37.6% in the 1st quarter. California State Teachers Retirement System now owns 88,927 shares of the company’s stock valued at $5,043,000 after purchasing an additional 24,282 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analysts Set New Price Targets

FHI has been the subject of a number of recent research reports. Zacks Research cut Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Royal Bank Of Canada boosted their price target on Federated Hermes from $60.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 3rd. Weiss Ratings upgraded Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 9th. Evercore reiterated an “outperform” rating and issued a $65.00 price target on shares of Federated Hermes in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.80.

Federated Hermes Trading Up 0.3%

Shares of FHI stock opened at $64.16 on Monday. Federated Hermes, Inc. has a 12-month low of $47.30 and a 12-month high of $67.38. The company has a market capitalization of $4.74 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.84 and a beta of 0.67. The firm has a 50-day moving average price of $58.51 and a 200 day moving average price of $57.65. The company has a quick ratio of 1.79, a current ratio of 2.48 and a debt-to-equity ratio of 0.27.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.08. The firm had revenue of $507.33 million for the quarter, compared to analysts’ expectations of $504.91 million. Federated Hermes had a net margin of 21.28% and a return on equity of 33.94%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. Research analysts forecast that Federated Hermes, Inc. will post 5.56 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. Federated Hermes’s payout ratio is 27.44%.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager headquartered in Pittsburgh, Pennsylvania. Founded in 1955 as Federated Investors, the company adopted the Federated Hermes name in 2020, following its acquisition of London-based Hermes Investment Management.

The company offers investment strategies and services across money markets, equities, fixed income, multi-asset and alternative investments. Its products and services include mutual funds, separately managed accounts and institutional investment solutions, along with liquidity management and stewardship services.

Federated Hermes serves individual and institutional investors through financial intermediaries and directly in the United States, the United Kingdom and other international markets.