AQR Capital Management LLC Sells 77,342 Shares of Federated Hermes, Inc. $FHI

Key Points

• AQR Capital Management LLC reduced its stake in Federated Hermes, Inc. by 3.0%, holding 2,480,683 shares worth approximately $100.64 million after selling 77,342 shares during the first quarter.
• Federated Hermes reported earnings of $1.16 per share, surpassing analysts' estimates of $0.99, with a significant 21.67% net margin and revenue of $424.84 million for the quarter.
• The company announced a quarterly dividend of $0.34 per share, equating to an annualized yield of 2.5%, paid out to shareholders on August 15th.

AQR Capital Management LLC trimmed its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,480,683 shares of the company's stock after selling 77,342 shares during the quarter. AQR Capital Management LLC owned approximately 3.14% of Federated Hermes worth $100,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock worth $357,178,000 after purchasing an additional 265,590 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 249.7% in 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 period. Invesco Ltd. raised its holdings in shares of Federated Hermes by 6.2% during the 1st quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock worth $96,533,000 after acquiring an additional 137,248 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Federated Hermes by 0.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company's stock valued at $77,650,000 after acquiring an additional 16,333 shares during the last quarter. Finally, LSV Asset Management boosted 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 valued at $45,136,000 after acquiring an additional 236,313 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on FHI. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and increased their target price for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Royal Bank Of Canada increased their target price on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. Evercore ISI increased their price target on Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Friday. Finally, TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $48.17.

Federated Hermes Trading Up 0.3%

FHI stock traded up $0.16 during midday trading on Tuesday, reaching $52.60. The company's stock had a trading volume of 332,419 shares, compared to its average volume of 803,718. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The stock has a fifty day simple moving average of $50.06 and a two-hundred day simple moving average of $43.84. Federated Hermes, Inc. has a 1 year low of $33.38 and a 1 year high of $54.42. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.72 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

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

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.