Federated Hermes, Inc. $FHI Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Federated Hermes, Inc. by 11.1%, selling 41,310 shares and now owns approximately 331,831 shares worth $13.5 million.
• The company reported an earnings per share of $1.16 for the last quarter, surpassing estimates, with a revenue of approximately $424.84 million.
• Federated Hermes announced a dividend of $0.34 per share, yielding 2.5%, with a payout ratio of 30.16% as of the last recording.

Algert Global LLC decreased its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 331,831 shares of the company's stock after selling 41,310 shares during the period. Algert Global LLC owned about 0.42% of Federated Hermes worth $13,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Federated Hermes by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after acquiring an additional 265,590 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Federated Hermes by 249.7% during the 1st 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. boosted its position in Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock valued at $96,533,000 after purchasing an additional 137,248 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Federated Hermes by 3.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company's stock valued at $77,626,000 after purchasing an additional 63,664 shares in the last quarter. Finally, LSV Asset Management grew its stake in Federated Hermes by 27.1% in the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock valued at $45,136,000 after purchasing an additional 236,313 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the sale, the vice president directly owned 316,930 shares in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Federated Hermes Stock Performance

NYSE:FHI traded up $0.08 during trading hours on Wednesday, reaching $52.67. The company had a trading volume of 404,265 shares, compared to its average volume of 830,916. 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, Inc. has a 1-year low of $33.29 and a 1-year high of $54.16. The business's 50 day moving average price is $47.21 and its 200-day moving average price is $42.39. The firm has a market cap of $4.09 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77.

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

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes's payout ratio is 30.16%.

Wall Street Analysts Forecast Growth

FHI has been the subject of a number of research analyst reports. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $40.00 to $54.00 in a research note on Monday, August 4th. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Evercore ISI raised their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and a consensus target price of $47.00.

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.