Gilman Hill Asset Management LLC Makes New Investment in Federated Hermes, Inc. (NYSE:FHI)

Gilman Hill Asset Management LLC acquired a new stake in Federated Hermes, Inc. (NYSE:FHI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,494 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC grew its position in Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after buying an additional 19,530 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Federated Hermes in the first quarter worth $1,419,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Federated Hermes in the first quarter worth $1,542,000. Ontario Teachers Pension Plan Board raised its stake in Federated Hermes by 103.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock valued at $2,121,000 after purchasing an additional 29,793 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after purchasing an additional 324,958 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen dropped their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. UBS Group decreased their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI upped their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Up 1.8 %

Shares of FHI opened at $36.66 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. Federated Hermes, Inc. has a 52 week low of $30.23 and a 52 week high of $37.43. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.41 and a beta of 1.16. The stock has a fifty day moving average of $34.76 and a 200-day moving average of $34.06.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.63 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.38%. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

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.