Hotchkis & Wiley Capital Management LLC Sells 19,392 Shares of Federated Hermes, Inc. $FHI

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Federated Hermes by 5.3%, owning 343,763 shares valued at approximately $14 million after selling 19,392 shares in the first quarter.
• Federated Hermes reported $1.16 earnings per share for the last quarter, surpassing estimates by $0.17, with revenue increasing by 5.5% year-over-year.
• The company declared a quarterly dividend of $0.34 per share, leading to an annualized dividend yield of 2.5%, with a payout ratio of 30.16%.

Hotchkis & Wiley Capital Management LLC lessened its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 343,763 shares of the company's stock after selling 19,392 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.43% of Federated Hermes worth $14,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares in the last quarter. Quarry LP acquired a new position in shares of Federated Hermes during the fourth quarter worth $37,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Federated Hermes by 22.7% during the first 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 in the last quarter. UMB Bank n.a. grew its position in shares of Federated Hermes by 55.1% during the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after buying an additional 734 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Federated Hermes during the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Evercore ISI boosted their price objective on Federated Hermes from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Finally, Royal Bank Of Canada boosted their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Federated Hermes currently has an average rating of "Hold" and a consensus target price of $47.00.

Federated Hermes Stock Down 0.9%

FHI traded down $0.47 on Friday, reaching $53.14. 148,468 shares of the company traded hands, compared to its average volume of 814,010. The stock's 50 day moving average price is $48.76 and its 200-day moving average price is $43.06. Federated Hermes, Inc. has a 52-week low of $33.29 and a 52-week high of $54.42. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm's revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes's dividend payout ratio (DPR) is presently 30.16%.

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.