Entropy Technologies LP Acquires Shares of 5,832 Federated Hermes, Inc. (NYSE:FHI)

Entropy Technologies LP purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, Holdings Channel reports. The institutional investor purchased 5,832 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FHI. AQR Capital Management LLC grew its position in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after buying an additional 1,261,097 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Federated Hermes during the 2nd quarter worth $11,913,000. Assenagon Asset Management S.A. lifted its stake in shares of 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 last quarter. AXA S.A. purchased a new stake in shares of Federated Hermes during the 2nd quarter worth $6,200,000. Finally, Interval Partners LP lifted its stake in shares of Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,370 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 0.4 %

Federated Hermes stock opened at $42.18 on Monday. The stock has a 50-day moving average of $37.92 and a two-hundred day moving average of $34.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The stock has a market cap of $3.45 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. Federated Hermes, Inc. has a one year low of $31.08 and a one year high of $42.56.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. On average, research analysts anticipate that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is presently 39.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FHI. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

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.