Handelsbanken Fonder AB Boosts Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Handelsbanken Fonder AB lifted its position in Federated Hermes, Inc. (NYSE:FHI) by 12.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,253 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Federated Hermes were worth $745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FHI. AQR Capital Management LLC raised its holdings in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares during the period. Wellington Management Group LLP increased its holdings in Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after purchasing an additional 673,496 shares during the period. LSV Asset Management purchased a new stake in Federated Hermes during the 2nd quarter worth about $11,913,000. Goldman Sachs Group Inc. increased its holdings in Federated Hermes by 39.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after purchasing an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after purchasing an additional 324,958 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 1.8 %

NYSE:FHI opened at $36.66 on Friday. The stock has a 50-day simple moving average of $34.76 and a 200-day simple moving average of $34.07. The stock has a market cap of $3.03 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.41 and a beta of 1.16. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $37.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. As a group, analysts anticipate that Federated Hermes, Inc. will post 3.63 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.38%. Federated Hermes’s dividend payout ratio is 42.61%.

Analysts Set New Price Targets

FHI has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Evercore ISI upped their price target on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. TD Cowen lowered their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, UBS Group lowered their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Insider Activity at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

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.