First Trust Advisors LP Increases Holdings in Federated Hermes, Inc. $FHI

First Trust Advisors LP raised its stake in Federated Hermes, Inc. (NYSE:FHI) by 5.6% during the first quarter, HoldingsChannel reports. The fund owned 616,598 shares of the company’s stock after buying an additional 32,810 shares during the period. First Trust Advisors LP’s holdings in Federated Hermes were worth $34,967,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Torren Management LLC bought a new stake in Federated Hermes during the 4th quarter valued at about $25,000. Root Financial Partners LLC increased its position in shares of Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after acquiring an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock worth $38,000 after acquiring an additional 401 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after acquiring an additional 503 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Federated Hermes by 220.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after purchasing an additional 594 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $59.11 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.49 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65. The firm’s 50 day moving average price is $57.27 and its 200-day moving average price is $56.07. Federated Hermes, Inc. has a twelve month low of $46.66 and a twelve month high of $60.77.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The company had revenue of $478.96 million during the quarter, compared to analyst estimates of $475.22 million. During the same period in the previous year, the business posted $1.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts expect that Federated Hermes, Inc. will post 5.24 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is 29.46%.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. The trade was a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president owned 74,921 shares of the company’s stock, valued at $4,060,718.20. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FHI shares. JPMorgan Chase & Co. lowered their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Evercore reiterated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a research note on Monday, June 8th. TD Cowen dropped their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Federated Hermes currently has a consensus rating of “Hold” and an average price target of $55.75.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.