AQR Capital Management LLC Sells 101,702 Shares of Federated Hermes, Inc. (NYSE:FHI)

AQR Capital Management LLC cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,558,025 shares of the company's stock after selling 101,702 shares during the period. AQR Capital Management LLC owned about 3.13% of Federated Hermes worth $105,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FHI. Northern Trust Corp increased its stake in shares of Federated Hermes by 6.0% in the fourth quarter. Northern Trust Corp now owns 554,958 shares of the company's stock valued at $22,814,000 after buying an additional 31,592 shares in the last quarter. Quarry LP acquired a new stake in Federated Hermes in the 4th quarter valued at about $37,000. Aquatic Capital Management LLC bought a new position in shares of Federated Hermes in the fourth quarter worth about $362,000. Three Seasons Wealth LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth approximately $500,000. Finally, Nebula Research & Development LLC grew its stake in shares of Federated Hermes by 123.7% during the fourth quarter. Nebula Research & Development LLC now owns 51,418 shares of the company's stock valued at $2,114,000 after purchasing an additional 28,432 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FHI has been the topic of several research reports. Royal Bank of Canada reduced their price objective on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 28th. UBS Group upped their price target on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI lifted their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday. StockNews.com upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.67.

Insider Buying and Selling

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

Federated Hermes Trading Up 2.4 %

Shares of Federated Hermes stock traded up $0.97 during trading on Friday, hitting $41.74. 705,290 shares of the company were exchanged, compared to its average volume of 731,508. 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 has a market capitalization of $3.39 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The firm's fifty day moving average price is $38.86 and its 200 day moving average price is $39.76. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is currently 38.31%.

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.