Enterprise Trust & Investment Co raised its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 45.4% during the 4th quarter, Holdings Channel reports. The firm owned 47,400 shares of the company’s stock after buying an additional 14,800 shares during the quarter. Enterprise Trust & Investment Co’s holdings in Federated Hermes were worth $1,448,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in FHI. Bank of Montreal Can purchased a new stake in shares of Federated Hermes in the second quarter worth approximately $319,000. Federated Hermes Inc. purchased a new position in shares of Federated Hermes in the 2nd quarter valued at about $567,000. FMR LLC acquired a new position in shares of Federated Hermes during the second quarter worth about $5,787,000. Advisor Group Holdings Inc. purchased a new stake in shares of Federated Hermes during the second quarter worth approximately $450,000. Finally, Vanguard Group Inc. acquired a new stake in Federated Hermes in the second quarter valued at approximately $222,073,000. 75.95% of the stock is currently owned by institutional investors and hedge funds.
FHI has been the topic of a number of recent analyst reports. TheStreet raised shares of Federated Hermes from a “c+” rating to a “b-” rating in a research report on Monday, October 26th. Zacks Investment Research downgraded Federated Hermes from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Monday, October 5th. BidaskClub downgraded Federated Hermes from a “hold” rating to a “sell” rating in a report on Friday, December 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Federated Hermes from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, December 18th. Finally, JPMorgan Chase & Co. cut shares of Federated Hermes from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $29.00 in a report on Friday, October 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.50.
Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Federated Hermes had a net margin of 21.72% and a return on equity of 28.99%. The firm had revenue of $364.46 million during the quarter, compared to the consensus estimate of $349.61 million. During the same quarter in the prior year, the firm earned $0.72 EPS. Federated Hermes’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts predict that Federated Hermes, Inc. will post 3.05 EPS for the current fiscal year.
In other Federated Hermes news, VP John B. Fisher sold 8,136 shares of Federated Hermes stock in a transaction that occurred 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 transaction, the vice president now directly owns 540,530 shares in the company, valued at approximately $15,313,214.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $28.38, for a total value of $31,246.38. Following the completion of the transaction, the insider now directly owns 54,800 shares in the company, valued at approximately $1,555,224. The disclosure for this sale can be found here. Insiders have sold 43,196 shares of company stock valued at $1,255,721 in the last quarter. Insiders own 5.20% of the company’s stock.
Federated Hermes Company 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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