Annis Gardner Whiting Capital Advisors LLC Invests $265,000 in Federated Hermes, Inc. (NYSE:FHI)

Key Points

• Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Federated Hermes, purchasing 6,500 shares valued at approximately $265,000 during the first quarter.
• Federated Hermes reported earnings of $1.16 per share for the latest quarter, exceeding analysts' expectations by $0.17, with a significant revenue increase of 5.5% year-over-year.
• The company recently announced a quarterly dividend of $0.34 per share, reflecting an annualized dividend yield of 2.7%, with a payout ratio of 30.16% currently.

Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,500 shares of the company's stock, valued at approximately $265,000.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its stake in Federated Hermes by 4.5% during the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock worth $243,367,000 after purchasing an additional 253,553 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings 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 worth $77,626,000 after buying an additional 63,664 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $52,731,000 after buying an additional 32,070 shares in the last quarter. LSV Asset Management grew its position in shares of Federated Hermes by 27.1% during the 1st quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock worth $45,136,000 after buying an additional 236,313 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Federated Hermes by 36.0% in the 1st quarter. Allianz Asset Management GmbH now owns 563,879 shares of the company's stock valued at $22,989,000 after acquiring an additional 149,348 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction on 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. The trade was a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by company insiders.

Federated Hermes Stock Up 0.0%

Shares of NYSE FHI traded up $0.01 during trading on Wednesday, hitting $51.42. The stock had a trading volume of 715,731 shares, compared to its average volume of 694,441. The firm has a fifty day moving average of $45.17 and a two-hundred day moving average of $41.45. The company has a market capitalization of $4.07 billion, a PE ratio of 11.40, a PEG ratio of 0.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.35. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $51.63.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $424.83 million. During the same period in the prior year, the firm posted $0.96 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.6%. Federated Hermes's payout ratio is currently 30.16%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FHI. Royal Bank Of Canada increased their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 10th. Evercore ISI increased their price objective on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $40.00 to $54.00 in a research note on Monday. Finally, TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Federated Hermes has a consensus rating of "Hold" and an average price target of $46.00.

About Federated Hermes

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.