Continental Advisors LLC increased its position in Federated Hermes, Inc. (NYSE:FHI) by 23.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,463 shares of the company’s stock after purchasing an additional 15,500 shares during the quarter. Federated Hermes makes up 1.2% of Continental Advisors LLC’s portfolio, making the stock its 28th largest holding. Continental Advisors LLC’s holdings in Federated Hermes were worth $2,581,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of FHI. Meeder Asset Management Inc. bought a new position in Federated Hermes in the first quarter worth $39,000. JJJ Advisors Inc. lifted its position in Federated Hermes by 69.1% in the first quarter. JJJ Advisors Inc. now owns 1,329 shares of the company’s stock worth $42,000 after purchasing an additional 543 shares during the period. Barclays PLC bought a new position in Federated Hermes in the fourth quarter worth $47,000. Captrust Financial Advisors lifted its position in Federated Hermes by 18.7% in the first quarter. Captrust Financial Advisors now owns 3,214 shares of the company’s stock worth $101,000 after purchasing an additional 506 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Federated Hermes by 76.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,852 shares of the company’s stock worth $121,000 after purchasing an additional 1,672 shares during the period. 78.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Federated Hermes stock traded down $0.81 during trading on Thursday, reaching $32.09. The company’s stock had a trading volume of 5,651 shares, compared to its average volume of 720,366. The stock has a 50-day moving average of $32.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.61 and a quick ratio of 1.81. Federated Hermes, Inc. has a one year low of $20.34 and a one year high of $34.64. The firm has a market capitalization of $3.16 billion, a PE ratio of 9.75 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Friday, May 7th were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.37%. Federated Hermes’s dividend payout ratio is 33.44%.
A number of research analysts have issued reports on FHI shares. Zacks Investment Research raised Federated Hermes from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a report on Wednesday, June 30th. Citigroup lifted their price objective on Federated Hermes from $31.50 to $33.50 and gave the company a “neutral” rating in a report on Monday, July 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Federated Hermes from $30.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price objective (down from $32.00) on shares of Federated Hermes in a report on Monday, April 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $31.25.
In related news, VP Paul A. Uhlman sold 984 shares of Federated Hermes stock in a transaction dated Wednesday, May 26th. The stock was sold at an average price of $31.73, for a total value of $31,222.32. Following the completion of the sale, the vice president now directly owns 316,445 shares in the company, valued at $10,040,799.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul A. Uhlman sold 5,977 shares of Federated Hermes stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $32.57, for a total value of $194,670.89. Following the completion of the sale, the vice president now owns 310,468 shares of the company’s stock, valued at $10,111,942.76. The disclosure for this sale can be found here. Insiders sold 42,649 shares of company stock valued at $1,412,625 over the last ninety days. 4.70% of the stock is currently owned by company insiders.
About Federated Hermes
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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