Federated Hermes, Inc. $FHI Shares Sold by Hotchkis & Wiley Capital Management LLC

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

A number of other large investors have also recently made changes to their positions in the stock. Hohimer Wealth Management LLC boosted its holdings in shares of Federated Hermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock valued at $277,000 after buying an additional 249 shares in the last quarter. CW Advisors LLC boosted its holdings 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 valued at $292,000 after buying an additional 261 shares in the last quarter. Walleye Capital LLC boosted its holdings in shares of Federated Hermes by 4.1% in the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock valued at $283,000 after buying an additional 269 shares in the last quarter. Pacer Advisors Inc. boosted its holdings 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 valued at $485,000 after buying an additional 286 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock valued at $63,000 after buying an additional 287 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Federated Hermes Stock Performance

Shares of NYSE:FHI traded down $0.51 during trading on Thursday, hitting $53.60. 482,641 shares of the stock traded hands, compared to its average volume of 818,111. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.73 and a beta of 0.77. The company has a fifty day moving average price of $48.53 and a two-hundred day moving average price of $42.95. Federated Hermes, Inc. has a 52-week low of $33.29 and a 52-week high of $54.42.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (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 analysts' expectations of $424.83 million. During the same quarter last year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.5%. Federated Hermes's dividend payout ratio (DPR) is currently 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.