Empowered Funds LLC Invests $14.05 Million in Federated Hermes, Inc. $FHI

Key Points

• Empowered Funds LLC acquired a $14.05 million position in Federated Hermes, purchasing 344,559 shares during the 1st quarter, bringing its ownership to 0.44% of the company.
• Several analysts have issued new price targets for Federated Hermes, with Royal Bank Of Canada increasing their target from $45.00 to $51.00 and JPMorgan Chase raising their target from $40.00 to $54.00.
• Federated Hermes recently announced a quarterly dividend of $0.34 per share, representing a 2.6% yield based on an annualized dividend of $1.36.

Empowered Funds LLC purchased a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 344,559 shares of the company's stock, valued at approximately $14,048,000. Empowered Funds LLC owned 0.44% of Federated Hermes as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of FHI. Hohimer Wealth Management LLC raised its stake in Federated Hermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock worth $277,000 after buying an additional 249 shares in the last quarter. CW Advisors LLC raised its position in shares of Federated Hermes by 3.8% in the 1st quarter. CW Advisors LLC now owns 7,168 shares of the company's stock worth $292,000 after acquiring an additional 261 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Federated Hermes by 2.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,900 shares of the company's stock worth $485,000 after acquiring an additional 286 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after purchasing an additional 287 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Federated Hermes by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 92,400 shares of the company's stock valued at $3,767,000 after purchasing an additional 300 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Down 0.8%

Shares of FHI stock traded down $0.42 during trading hours on Friday, reaching $53.68. 338,257 shares of the company's stock were exchanged, compared to its average volume of 450,558. Federated Hermes, Inc. has a 1 year low of $34.44 and a 1 year high of $54.42. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.16 billion, a PE ratio of 11.90, a PEG ratio of 0.73 and a beta of 0.84. The stock's fifty day moving average price is $50.70 and its two-hundred day moving average price is $44.26.

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, topping analysts' consensus estimates of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. Federated Hermes's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. Research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed 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. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 8th. Federated Hermes's payout ratio is presently 30.16%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FHI shares. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. Royal Bank Of Canada boosted their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 14th. Finally, Evercore ISI increased their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $48.17.

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.