Walleye Capital LLC Makes New Investment in Federated Hermes, Inc. (NYSE:FHI)

Walleye Capital LLC bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,608 shares of the company’s stock, valued at approximately $243,000.

A number of other large investors have also recently added to or reduced their stakes in FHI. AQR Capital Management LLC boosted its position in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the period. LSV Asset Management acquired a new position in shares of Federated Hermes in the second quarter valued at $11,913,000. Assenagon Asset Management S.A. raised its stake in shares of Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. AXA S.A. acquired a new position in shares of Federated Hermes in the second quarter valued at $6,200,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after purchasing an additional 152,926 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $42.33 on Wednesday. The company’s 50 day moving average price is $40.06 and its two-hundred day moving average price is $35.96. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The firm has a market cap of $3.46 billion, a PE ratio of 13.63, a PEG ratio of 1.19 and a beta of 1.15. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 16.62% and a return on equity of 29.85%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. Equities research analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Activity

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the sale, the vice president now owns 310,767 shares of the company’s stock, valued at $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,280 shares of company stock valued at $1,185,871. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FHI shares. Deutsche Bank Aktiengesellschaft increased 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 objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Royal Bank of Canada increased their price objective on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. UBS Group increased 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. Finally, Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

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.