Federated Hermes, Inc. $FHI Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has cut its stake in Federated Hermes, Inc. by 58.2%, reducing its ownership to approximately 90,668 shares valued at around $4,018,000 as of the most recent SEC filing.
• Several other institutional investors have increased their holdings in Federated Hermes, with utility firms like Cetera Investment Advisers boosting their stake by 43.9% in the last quarter.
• The company recently declared a quarterly dividend of $0.34 per share, with an annualized yield of 2.6%, and reported a >year-over-year revenue increase of 5.5%.

Assenagon Asset Management S.A. decreased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 58.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,668 shares of the company's stock after selling 126,395 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Federated Hermes worth $4,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of Federated Hermes by 43.9% during the 4th quarter. Cetera Investment Advisers now owns 11,787 shares of the company's stock valued at $485,000 after acquiring an additional 3,594 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Federated Hermes by 9.3% during the 4th quarter. Deutsche Bank AG now owns 17,479 shares of the company's stock valued at $719,000 after acquiring an additional 1,487 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Federated Hermes by 13.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,653 shares of the company's stock valued at $8,824,000 after acquiring an additional 24,964 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Federated Hermes during the 4th quarter valued at about $5,817,000. Finally, 111 Capital acquired a new position in shares of Federated Hermes during the 4th quarter valued at about $427,000. Institutional investors and hedge funds own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FHI. Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Zacks Research downgraded shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $40.00 to $54.00 in a research note on Monday, August 4th. Finally, Evercore ISI boosted their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $48.17.

Federated Hermes Stock Down 1.8%

Shares of NYSE:FHI opened at $51.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The stock has a market capitalization of $3.99 billion, a P/E ratio of 11.42, a PEG ratio of 0.70 and a beta of 0.84. The stock has a 50-day simple moving average of $51.76 and a 200-day simple moving average of $44.95.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. The business had revenue of $424.84 million during the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, August 8th. Federated Hermes's dividend payout ratio is currently 30.16%.

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.

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