Federated Hermes, Inc. (NYSE:FHI) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. significantly increased its position in Federated Hermes, acquiring 2,284,509 additional shares, bringing its total ownership to approximately 4.04%, valued at $130.4 million.
• Federated Hermes reported earnings of $1.16 per share for the last quarter, surpassing analysts' expectations of $0.99 and reflecting a 5.5% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.34, resulting in an annualized dividend yield of 2.6%, with shares trading around $51.56.

Charles Schwab Investment Management Inc. increased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 249.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,199,554 shares of the company's stock after buying an additional 2,284,509 shares during the period. Charles Schwab Investment Management Inc. owned about 4.04% of Federated Hermes worth $130,446,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Federated Hermes by 3.1% during the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock worth $357,178,000 after buying an additional 265,590 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Federated Hermes during the first quarter worth approximately $265,000. LSV Asset Management grew its stake in Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock worth $45,136,000 after buying an additional 236,313 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Federated Hermes in the first quarter valued at $2,185,000. Finally, Bayforest Capital Ltd purchased a new position in shares of Federated Hermes in the first quarter valued at $540,000. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Trading Up 0.6%

NYSE FHI opened at $51.56 on Tuesday. Federated Hermes, Inc. has a 12 month low of $32.27 and a 12 month high of $52.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.73 and a beta of 0.77. The company's fifty day moving average price is $45.90 and its two-hundred day moving average price is $41.84.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping 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 company had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. During the same period in the prior year, the company earned $0.96 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 8th. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FHI shares. 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. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and upped their target price for the company from $40.00 to $54.00 in a research note on Monday, August 4th. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI upped their target price on shares of Federated Hermes from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $46.00.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president owned 316,930 shares in the company, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

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.

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