Federated Hermes, Inc. $FHI Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Federated Hermes, Inc. (NYSE:FHI) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 8,245,538 shares of the company’s stock after selling 229,511 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Federated Hermes worth $429,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FHI. Schneider Downs Wealth Management Advisors LP raised its holdings in shares of Federated Hermes by 3,229.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock worth $137,992,000 after purchasing an additional 2,577,442 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Federated Hermes by 2,410.2% in the 3rd quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock worth $40,479,000 after purchasing an additional 748,439 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after acquiring an additional 670,643 shares during the period. Jupiter Asset Management Ltd. raised its holdings in shares of Federated Hermes by 2,427.2% during the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after acquiring an additional 506,500 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 20.1% in the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after buying an additional 498,202 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 72,392 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $56.23, for a total value of $4,070,602.16. Following the sale, the vice president owned 263,987 shares of the company’s stock, valued at approximately $14,843,989.01. This represents a 21.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Federated Hermes Trading Up 1.0%

Shares of FHI stock opened at $55.62 on Thursday. Federated Hermes, Inc. has a 52-week low of $41.55 and a 52-week high of $59.05. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 2.16 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 3.28. The firm has a fifty day moving average of $56.64 and a 200-day moving average of $53.51.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $475.22 million. During the same quarter in the prior year, the company posted $1.25 EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that Federated Hermes, Inc. will post 5.09 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s payout ratio is currently 26.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Argus upgraded shares of Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. TD Cowen cut their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Monday. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.00.

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.