Zurcher Kantonalbank Zurich Cantonalbank Buys 4,028 Shares of Federated Hermes, Inc. (NYSE:FHI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,666 shares of the company’s stock after purchasing an additional 4,028 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Federated Hermes were worth $850,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after buying an additional 137,245 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Federated Hermes by 53.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after acquiring an additional 446,683 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after acquiring an additional 92,643 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock valued at $28,953,000 after purchasing an additional 90,900 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Price Performance

NYSE:FHI opened at $39.73 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The firm’s 50-day simple moving average is $38.64 and its 200 day simple moving average is $39.07.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FHI shares. UBS Group boosted their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Evercore ISI set a $44.00 price objective on shares of Federated Hermes in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.17.

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.