Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management has reduced its stake in Federated Hermes by 3.7%, now holding approximately 160,199 shares valued at $6.53 million.
• Federated Hermes reported a quarterly EPS of $1.16, surpassing analysts' expectations of $0.99, with a significant year-over-year revenue increase of 5.5%.
• The company declared a quarterly dividend of $0.34, representing an annual yield of 2.5% and a dividend payout ratio of 30.16%.

Brandywine Global Investment Management LLC reduced its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,199 shares of the company's stock after selling 6,200 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.20% of Federated Hermes worth $6,531,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings 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 valued at $35,000 after acquiring an additional 614 shares during the period. Quarry LP acquired a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $37,000. UMB Bank n.a. boosted its holdings in shares of Federated Hermes by 55.1% in the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock valued at $84,000 after acquiring an additional 734 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $90,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Federated Hermes in the first quarter valued at approximately $120,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company's stock.

Federated Hermes Price Performance

Federated Hermes stock opened at $53.71 on Friday. Federated Hermes, Inc. has a one year low of $32.93 and a one year high of $54.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The business has a fifty day moving average of $46.79 and a two-hundred day moving average of $42.21. The company has a market cap of $4.17 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.76 and a beta of 0.77.

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, beating analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%. The company had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. During the same quarter last year, the company earned $0.96 earnings per share. Federated Hermes's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued 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 30.16%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FHI shares. Evercore ISI increased their price target on Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $40.00 to $54.00 in a report on Monday, August 4th. Finally, Royal Bank Of Canada set a $51.00 price target on Federated Hermes and gave the stock a "sector perform" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $47.00.

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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