Assenagon Asset Management S.A. Sells 448,242 Shares of Federated Hermes, Inc. (NYSE:FHI)

Assenagon Asset Management S.A. trimmed its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 67.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,063 shares of the company's stock after selling 448,242 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Federated Hermes worth $8,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Federated Hermes in the fourth quarter worth approximately $292,000. Charles Schwab Investment Management Inc. grew its position in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock valued at $37,618,000 after acquiring an additional 145,878 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Federated Hermes in the 4th quarter worth about $461,000. Dynamic Technology Lab Private Ltd purchased a new position in Federated Hermes in the 4th quarter worth approximately $585,000. Finally, Sanctuary Advisors LLC lifted its stake in Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company's stock worth $916,000 after purchasing an additional 10,135 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president now directly owns 316,930 shares in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of 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 price target on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. Finally, TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Federated Hermes currently has an average rating of "Hold" and a consensus price target of $42.33.

Federated Hermes Price Performance

FHI stock traded down $0.65 during trading on Friday, hitting $42.18. 722,110 shares of the stock traded hands, compared to its average volume of 736,215. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.00 and a beta of 0.78. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The company has a 50 day simple moving average of $40.82 and a 200 day simple moving average of $40.13.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a $0.34 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is 38.31%.

Federated Hermes 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.