Brandywine Global Investment Management LLC Purchases 28,854 Shares of Federated Hermes, Inc. $FHI

Key Points

• Brandywine Global Investment Management increased its stake in Federated Hermes by 19.4% in the fourth quarter, buying 28,854 additional shares and bringing its total holding to 177,533 shares worth about $9.24 million.
• Other institutional investors also added to their positions, and institutions now own 75.94% of Federated Hermes, highlighting strong professional ownership interest in the stock.
• The company posted better-than-expected earnings for the latest quarter, with EPS of $1.27 versus estimates of $1.20, while also raising its quarterly dividend from $0.34 to $0.38 per share.

Brandywine Global Investment Management LLC grew its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 19.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,533 shares of the company's stock after buying an additional 28,854 shares during the quarter. Brandywine Global Investment Management LLC owned 0.23% of Federated Hermes worth $9,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schneider Downs Wealth Management Advisors LP boosted its stake in Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company's stock valued at $137,992,000 after buying an additional 2,577,442 shares in the last quarter. Victory Capital Management Inc. increased its position in Federated Hermes by 2,410.2% during the 3rd quarter. Victory Capital Management Inc. now owns 779,492 shares of the company's stock worth $40,479,000 after purchasing an additional 748,439 shares in the last quarter. Invesco Ltd. lifted its stake in Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company's stock valued at $152,669,000 after purchasing an additional 670,643 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in Federated Hermes by 2,427.2% in the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company's stock valued at $27,386,000 after buying an additional 506,500 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Federated Hermes by 20.1% in the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company's stock valued at $132,024,000 after buying an additional 498,202 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. TD Cowen reduced their price objective on Federated Hermes from $58.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating for the company in a report on Monday, May 4th. Royal Bank Of Canada dropped their target price on Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. Finally, Evercore reissued an "outperform" rating and set a $59.00 price target on shares of Federated Hermes in a research note on Monday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $55.00.

Federated Hermes Stock Performance

NYSE FHI opened at $57.61 on Wednesday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 2.04 and a beta of 0.65. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a twelve month low of $41.71 and a twelve month high of $59.05. The stock has a fifty day simple moving average of $56.26 and a 200 day simple moving average of $54.56.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. During the same period in the previous year, the business earned $1.25 EPS. The business's quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts expect that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a $0.38 dividend. This is an increase from Federated Hermes's previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, May 8th. Federated Hermes's payout ratio is presently 29.46%.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the transaction, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul A. Uhlman sold 72,392 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the completion of the sale, the vice president directly owned 263,987 shares in the company, valued at approximately $14,843,989.01. This represents a 21.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 85,342 shares of company stock worth $4,800,595 over the last ninety days. Insiders own 4.20% of the company's stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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