Wedge Capital Management L L P NC Boosts Holdings in Federated Hermes, Inc. (NYSE:FHI)

Wedge Capital Management L L P NC increased its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 20.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,332 shares of the company’s stock after buying an additional 4,734 shares during the period. Wedge Capital Management L L P NC’s holdings in Federated Hermes were worth $1,155,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Walleye Capital LLC boosted its position in Federated Hermes by 4.1% during the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock worth $283,000 after purchasing an additional 269 shares during the period. Amalgamated Bank boosted its position in Federated Hermes by 1.0% during the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock worth $1,341,000 after purchasing an additional 313 shares during the period. Tower Research Capital LLC TRC boosted its position in Federated Hermes by 4.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock worth $424,000 after purchasing an additional 474 shares during the period. Cadence Bank boosted its position in Federated Hermes by 0.6% during the fourth quarter. Cadence Bank now owns 123,058 shares of the company’s stock worth $5,059,000 after purchasing an additional 730 shares during the period. Finally, UMB Bank n.a. boosted its position in Federated Hermes by 55.1% during the first quarter. UMB Bank n.a. now owns 2,065 shares of the company’s stock worth $84,000 after purchasing an additional 734 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FHI. Evercore ISI increased their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Royal Bank of Canada increased their target price on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Finally, TD Cowen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.33.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 6,057 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president now owns 316,930 shares of the company’s stock, valued at $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by insiders.

Federated Hermes Stock Performance

Shares of FHI stock opened at $42.40 on Wednesday. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The stock has a market cap of $3.35 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $40.45 and its 200-day moving average price is $40.13.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $423.54 million for the quarter, compared to analysts’ expectations of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Federated Hermes’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.34 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. Federated Hermes’s payout ratio is 38.31%.

About Federated Hermes

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.