Annis Gardner Whiting Capital Advisors LLC Makes New Investment 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 bought a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 6,500 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FHI. FMR LLC raised its position in shares of Federated Hermes by 4.5% in the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after purchasing an additional 253,553 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of 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 worth $77,626,000 after purchasing an additional 63,664 shares during the period. Geode Capital Management LLC increased its position in Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock valued at $52,731,000 after purchasing an additional 32,070 shares during the period. LSV Asset Management boosted its position in Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock valued at $45,136,000 after acquiring an additional 236,313 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Federated Hermes by 36.0% in the first quarter. Allianz Asset Management GmbH now owns 563,879 shares of the company's stock worth $22,989,000 after purchasing an additional 149,348 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Price Performance

FHI traded up $0.41 during trading on Friday, hitting $51.28. 702,168 shares of the company traded hands, compared to its average volume of 714,926. The company has a current ratio of 3.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.98 billion, a PE ratio of 11.37, a P/E/G ratio of 0.72 and a beta of 0.77. Federated Hermes, Inc. has a 1 year low of $32.27 and a 1 year high of $52.24. The stock's 50-day simple moving average is $45.71 and its two-hundred day simple moving average is $41.70.

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

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 8th. Federated Hermes's payout ratio is currently 30.16%.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada boosted their price objective on Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $40.00 to $54.00 in a research note on Monday, August 4th. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI raised their target price on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently 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.