Franklin Resources Inc. Purchases Shares of 23,283 Federated Hermes, Inc. (NYSE:FHI)

Franklin Resources Inc. bought a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,283 shares of the company's stock, valued at approximately $957,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FHI. Bank of New York Mellon Corp boosted its holdings in shares of Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after acquiring an additional 446,683 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Federated Hermes by 51.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock valued at $33,645,000 after purchasing an additional 278,524 shares during the period. Norges Bank purchased a new stake in Federated Hermes in the fourth quarter valued at $10,639,000. Brandywine Global Investment Management LLC acquired a new stake in Federated Hermes during the 4th quarter worth about $6,841,000. Finally, Barclays PLC raised its stake in shares of Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after buying an additional 150,017 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Trading Up 0.3 %

Shares of FHI stock traded up $0.11 during trading on Friday, hitting $37.58. 520,289 shares of the stock traded hands, compared to its average volume of 732,338. The firm has a market capitalization of $3.06 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The firm's fifty day moving average price is $38.65 and its 200-day moving average price is $39.61.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, February 7th. Federated Hermes's dividend payout ratio (DPR) is 38.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Evercore ISI dropped their price objective on shares of Federated Hermes from $42.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. StockNews.com cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 1st. Royal Bank of Canada dropped their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 28th. Finally, UBS Group upped their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Federated Hermes currently has an average rating of "Hold" and a consensus price target of $41.17.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

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.