Verition Fund Management LLC Makes New $631,000 Investment in Federated Hermes, Inc. (NYSE:FHI)

Verition Fund Management LLC bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, Holdings Channel reports. The institutional investor bought 17,160 shares of the company’s stock, valued at approximately $631,000.

Other large investors also recently modified their holdings of the company. CWM LLC raised its stake in Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after acquiring an additional 1,311 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Federated Hermes by 267.9% in the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after purchasing an additional 19,530 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Federated Hermes by 4.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 28,476 shares of the company’s stock valued at $936,000 after purchasing an additional 1,083 shares during the period. Assenagon Asset Management S.A. increased its position in 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 worth $37,555,000 after buying an additional 324,958 shares during the period. Finally, Blue Trust Inc. lifted its stake in Federated Hermes by 36.7% in the second quarter. Blue Trust Inc. now owns 5,232 shares of the company’s stock valued at $189,000 after buying an additional 1,405 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction that occurred 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 in the company, valued at $12,862,646.13. This represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock worth $1,185,871 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on FHI shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Federated Hermes Stock Performance

Shares of FHI opened at $42.33 on Wednesday. The company has a 50-day moving average of $40.06 and a two-hundred day moving average of $35.96. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

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

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.