Federated Hermes, Inc. $FHI Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Federated Hermes, Inc. by 60.5%, selling 363,518 shares and owning approximately 0.30% worth $9.65 million after the sale.
• Vanguard Group and Charles Schwab significantly increased their investments, with Vanguard boosting its stake by 3.1% and Charles Schwab by 249.7% during the first quarter.
• Federated Hermes announced a quarterly dividend of $0.34 per share, representing an annual yield of 2.5% and a payout ratio of 30.16%.

Acadian Asset Management LLC reduced its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 60.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,853 shares of the company's stock after selling 363,518 shares during the period. Acadian Asset Management LLC owned approximately 0.30% of Federated Hermes worth $9,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after buying an additional 265,590 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock worth $130,446,000 after purchasing an additional 2,284,509 shares during the last quarter. Invesco Ltd. lifted its position in shares of Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock worth $96,533,000 after purchasing an additional 137,248 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Federated Hermes by 0.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company's stock worth $77,650,000 after purchasing an additional 16,333 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock worth $45,136,000 after purchasing an additional 236,313 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

Shares of NYSE FHI traded up $1.06 during mid-day trading on Thursday, reaching $53.61. 183,477 shares of the company traded hands, compared to its average volume of 790,986. Federated Hermes, Inc. has a fifty-two week low of $35.05 and a fifty-two week 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. The firm has a market cap of $4.16 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84. The stock has a fifty day simple moving average of $51.12 and a 200-day simple moving average of $44.47.

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

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given 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 payout ratio is 30.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FHI shares. Royal Bank Of Canada increased their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 14th. Zacks Research cut shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. 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 increased their price target for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. Finally, Evercore ISI increased their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $48.17.

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.