Vanguard Group Inc. Has $290.21 Million Position in Federated Hermes, Inc. (NYSE:FHI)

Vanguard Group Inc. raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,568,361 shares of the company’s stock after buying an additional 68,974 shares during the quarter. Vanguard Group Inc. owned about 9.93% of Federated Hermes worth $290,210,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its position in Federated Hermes by 69.9% in the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. Quarry LP acquired a new stake in Federated Hermes in the second quarter worth about $29,000. Pinebridge Investments L.P. acquired a new stake in Federated Hermes in the second quarter worth about $37,000. CENTRAL TRUST Co boosted its holdings in Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock worth $50,000 after buying an additional 1,150 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Federated Hermes during the second quarter worth about $51,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 13,820 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the completion of the sale, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock valued at $4,092,831 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Federated Hermes Trading Up 1.4 %

NYSE FHI opened at $36.12 on Friday. The business has a 50 day simple moving average of $35.40 and a 200 day simple moving average of $33.89. The stock has a market capitalization of $3.05 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $45.55.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. Federated Hermes’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Research analysts expect that Federated Hermes, Inc. will post 3.64 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is currently 32.84%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FHI shares. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. UBS Group initiated coverage on Federated Hermes in a research note on Friday, January 5th. They issued a “neutral” rating and a $35.00 price target for the company. TD Cowen began coverage on Federated Hermes in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.43.

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.