Avantax Planning Partners Inc. Boosts Holdings in Federated Hermes, Inc. (NYSE:FHI)

Avantax Planning Partners Inc. lifted its stake in Federated Hermes, Inc. (NYSE:FHI) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,040 shares of the company’s stock after purchasing an additional 1,040 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Federated Hermes were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Federated Hermes in the 4th quarter worth about $292,000. Inspire Investing LLC purchased a new position in Federated Hermes in the 4th quarter worth about $829,000. Sanctuary Advisors LLC raised its position in Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock worth $916,000 after buying an additional 10,135 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Federated Hermes by 24.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after buying an additional 152,926 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new position in Federated Hermes in the 4th quarter worth about $727,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 3.1 %

Federated Hermes stock opened at $37.68 on Thursday. The firm has a 50 day moving average of $38.75 and a 200 day moving average of $38.89. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

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

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio is 38.87%.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were 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 of the company’s stock, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Federated Hermes Company 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.