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

Los Angeles Capital Management LLC bought a new stake in Federated Hermes, Inc. (NYSE:FHI – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,821 shares of the company’s stock, valued at approximately $1,322,000.

A number of other large investors have also modified their holdings of the stock. Schneider Downs Wealth Management Advisors LP grew its stake in shares of Federated Hermes by 1.0% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 3,271,829 shares of the company’s stock valued at $111,438,000 after buying an additional 31,543 shares in the last quarter. State Street Corp grew its stake in shares of Federated Hermes by 3.0% in the fourth quarter. State Street Corp now owns 3,121,178 shares of the company’s stock valued at $117,294,000 after buying an additional 91,710 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Federated Hermes by 1.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,358,705 shares of the company’s stock valued at $88,640,000 after buying an additional 29,482 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Federated Hermes by 34.7% in the first quarter. Victory Capital Management Inc. now owns 2,196,340 shares of the company’s stock valued at $74,694,000 after buying an additional 565,833 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Federated Hermes by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,063,750 shares of the company’s stock valued at $77,556,000 after buying an additional 109,289 shares in the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.

Federated Hermes Trading Up 1.2 %

NYSE:FHI opened at $34.64 on Thursday. The company has a quick ratio of 1.84, a current ratio of 2.71 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $32.84 and its two-hundred day moving average is $32.54. Federated Hermes, Inc. has a 52 week low of $27.88 and a 52 week high of $39.82. The company has a market cap of $3.18 billion, a PE ratio of 12.88 and a beta of 1.12.

Federated Hermes (NYSE:FHI – Get Rating) last released its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Federated Hermes had a return on equity of 24.12% and a net margin of 18.93%. The firm had revenue of $366.01 million for the quarter, compared to the consensus estimate of $363.24 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts predict that Federated Hermes, Inc. will post 2.77 EPS for the current year. Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, August 5th. Federated Hermes’s dividend payout ratio is presently 40.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FHI shares. Citigroup lowered their price objective on Federated Hermes from $28.50 to $25.50 in a research note on Monday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Federated Hermes from $37.00 to $36.00 in a research note on Wednesday, July 13th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Royal Bank of Canada raised their price objective on Federated Hermes from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded Federated Hermes from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $32.00 to $40.00 in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.90.

Insider Buying and Selling

In related news, VP John B. Fisher sold 33,312 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $33.70, for a total value of $1,122,614.40. Following the sale, the vice president now owns 538,115 shares of the company’s stock, valued at approximately $18,134,475.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP John B. Fisher sold 33,312 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $33.70, for a total value of $1,122,614.40. Following the sale, the vice president now owns 538,115 shares of the company’s stock, valued at approximately $18,134,475.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul A. Uhlman sold 971 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $33.78, for a total value of $32,800.38. Following the completion of the sale, the vice president now directly owns 342,164 shares in the company, valued at approximately $11,558,299.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,019 shares of company stock valued at $2,257,547. Insiders own 5.00% of the company’s stock.

Federated Hermes Company Profile

(Get Rating)

Federated Hermes, Inc is a publicly owned asset management holding company. 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.

Further Reading

Receive News & Ratings for Federated Hermes Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Federated Hermes and related companies with MarketBeat.com’s FREE daily email newsletter.