Assenagon Asset Management S.A. Trims Stake in Federated Hermes, Inc. (NYSE:FHI)

Assenagon Asset Management S.A. cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 67.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,063 shares of the company's stock after selling 448,242 shares during the period. Assenagon Asset Management S.A. owned 0.27% of Federated Hermes worth $8,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Walleye Capital LLC increased its holdings in Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock worth $283,000 after acquiring an additional 269 shares during the period. Amalgamated Bank grew its position in shares of Federated Hermes by 1.0% during the 4th quarter. Amalgamated Bank now owns 32,614 shares of the company's stock valued at $1,341,000 after purchasing an additional 313 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Federated Hermes by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company's stock worth $424,000 after buying an additional 474 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares during the period. Finally, Cadence Bank grew its position in Federated Hermes by 0.6% during the fourth quarter. Cadence Bank now owns 123,058 shares of the company's stock worth $5,059,000 after buying an additional 730 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FHI. Evercore ISI raised their price target on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.33.

Insider Buying and Selling at Federated Hermes

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 value of $255,241.98. Following the sale, the vice president now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Trading Up 0.6%

Shares of FHI stock traded up $0.27 on Wednesday, hitting $42.31. 548,856 shares of the company's stock traded hands, compared to its average volume of 736,782. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.80 and a beta of 0.79. The company's fifty day simple moving average is $41.04 and its 200 day simple moving average is $40.12. Federated Hermes, Inc. has a one year low of $31.30 and a one year high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. During the same period last year, the firm earned $0.89 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $0.34 dividend. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, May 8th. Federated Hermes's payout ratio is 38.31%.

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.