Alps Advisors Inc. Grows Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Alps Advisors Inc. boosted its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 137,354 shares of the company's stock after buying an additional 9,916 shares during the period. Alps Advisors Inc. owned approximately 0.17% of Federated Hermes worth $5,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its holdings in 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 buying an additional 253,553 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Federated Hermes by 3.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company's stock worth $77,626,000 after purchasing an additional 63,664 shares during the period. Geode Capital Management LLC increased its stake in Federated Hermes by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after purchasing an additional 32,070 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after purchasing an additional 145,878 shares during the period. Finally, LSV Asset Management increased its stake in Federated Hermes by 48.2% in the fourth quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after purchasing an additional 283,300 shares during the period. Hedge funds and other institutional investors own 75.94% of the company's stock.

Insiders Place Their Bets

In related 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 owned 316,930 shares of the company's stock, valued at $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on FHI shares. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Evercore ISI increased their target price on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Royal Bank Of Canada increased their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.50.

Federated Hermes Stock Up 0.8%

Shares of FHI traded up $0.38 during midday trading on Monday, reaching $46.57. 410,946 shares of the stock were exchanged, compared to its average volume of 848,166. Federated Hermes, Inc. has a 52 week low of $31.94 and a 52 week high of $46.84. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $43.14 and its two-hundred day moving average is $40.41. The company has a market capitalization of $3.68 billion, a P/E ratio of 13.12, a PEG ratio of 0.85 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The business had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. During the same quarter in the prior year, the company earned $0.89 EPS. The business's revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.92%. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio (DPR) is presently 38.31%.

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.