Jacobs Levy Equity Management Inc. Purchases Shares of 274,920 Federated Hermes, Inc. $FHI

Jacobs Levy Equity Management Inc. acquired a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 274,920 shares of the company's stock, valued at approximately $11,208,000. Jacobs Levy Equity Management Inc. owned 0.35% of Federated Hermes at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHI. Northern Trust Corp boosted its position in Federated Hermes by 6.0% during the fourth quarter. Northern Trust Corp now owns 554,958 shares of the company's stock worth $22,814,000 after purchasing an additional 31,592 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Federated Hermes by 1.4% during the fourth quarter. Ameriprise Financial Inc. now owns 139,957 shares of the company's stock worth $5,754,000 after buying an additional 1,880 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Federated Hermes by 4.0% in the fourth quarter. Baird Financial Group Inc. now owns 29,417 shares of the company's stock valued at $1,209,000 after acquiring an additional 1,126 shares during the period. Cetera Investment Advisers boosted its position in shares of Federated Hermes by 43.9% in the fourth quarter. Cetera Investment Advisers now owns 11,787 shares of the company's stock valued at $485,000 after acquiring an additional 3,594 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of Federated Hermes in the fourth quarter valued at about $213,000. 75.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FHI. Royal Bank Of Canada boosted their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Finally, Evercore ISI boosted their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.17.

Federated Hermes Price Performance

FHI stock traded down $0.42 during midday trading on Friday, reaching $53.68. The company had a trading volume of 338,257 shares, compared to its average volume of 495,845. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.74 and a beta of 0.84. The stock has a 50 day moving average price of $50.70 and a 200-day moving average price of $44.22. Federated Hermes, Inc. has a 1-year low of $34.44 and a 1-year high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.34 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.5%. Federated Hermes's dividend payout ratio is presently 30.16%.

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.