Allianz Asset Management GmbH Buys 277,117 Shares of Federated Hermes, Inc. $FHI

Key Points

• Allianz Asset Management GmbH increased its stake in Federated Hermes by 49.1%, acquiring an additional 277,117 shares to own approximately 1.06% of the company, valued at $37.27 million.
• Federated Hermes recently reported $1.16 EPS for the quarter, beating analysts' estimates of $0.99, with a year-over-year revenue growth of 5.5%.
• The company declared a quarterly dividend of $0.34, reflecting an annualized dividend yield of 2.6% with a payout ratio of 30.16%.

Allianz Asset Management GmbH lifted its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 49.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 840,996 shares of the company's stock after acquiring an additional 277,117 shares during the period. Allianz Asset Management GmbH owned approximately 1.06% of Federated Hermes worth $37,273,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FHI. Farther Finance Advisors LLC increased its position in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Federated Hermes during the first quarter worth $401,000. Blue Trust Inc. increased its position in shares of Federated Hermes by 9.3% during the first quarter. Blue Trust Inc. now owns 5,314 shares of the company's stock worth $217,000 after acquiring an additional 453 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Federated Hermes during the first quarter worth $120,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Federated Hermes during the first quarter worth $2,635,000. Institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Performance

Shares of FHI opened at $51.53 on Friday. The firm has a 50-day moving average of $52.60 and a 200-day moving average of $46.40. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. The company has a market cap of $4.00 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. 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 announced 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 company had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. During the same quarter last year, the firm posted $0.96 EPS. The company's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on FHI shares. Zacks Research raised shares of Federated Hermes from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Evercore ISI raised 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. Wall Street Zen downgraded 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 their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.