Federated Hermes, Inc. (NYSE:FHI) Shares Acquired by ABLE Financial Group LLC

ABLE Financial Group LLC increased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,164 shares of the company's stock after acquiring an additional 6,020 shares during the period. ABLE Financial Group LLC's holdings in Federated Hermes were worth $1,528,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Federated Hermes by 4.5% during the 4th quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after purchasing an additional 253,553 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Federated Hermes by 3.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company's stock valued at $77,626,000 after acquiring an additional 63,664 shares during the period. Geode Capital Management LLC grew its position in shares of Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock valued at $52,731,000 after acquiring an additional 32,070 shares during the period. Bank of New York Mellon Corp grew its position in shares of Federated Hermes by 53.8% during 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 period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock valued at $37,618,000 after acquiring an additional 145,878 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

Shares of NYSE FHI traded up $0.45 during midday trading on Thursday, reaching $42.41. The company had a trading volume of 814,249 shares, compared to its average volume of 732,764. The business's 50-day simple moving average is $40.20 and its 200 day simple moving average is $40.12. The stock has a market cap of $3.35 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The firm had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. During the same quarter last year, the company posted $0.89 earnings per share. The firm's revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. Federated Hermes's dividend payout ratio (DPR) is currently 38.31%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Royal Bank of Canada boosted their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $42.33.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president now directly owns 316,930 shares in the company, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by 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.