Allianz Asset Management GmbH Has $22.99 Million Holdings in Federated Hermes, Inc. (NYSE:FHI)

Allianz Asset Management GmbH grew its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 563,879 shares of the company's stock after acquiring an additional 149,348 shares during the quarter. Allianz Asset Management GmbH owned about 0.71% of Federated Hermes worth $22,989,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Federated Hermes by 246.6% during 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 position in shares of Federated Hermes during the fourth quarter valued at $37,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Federated Hermes during the fourth quarter valued at $73,000. UMB Bank n.a. boosted its holdings 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 valued at $84,000 after acquiring an additional 734 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Federated Hermes during the fourth quarter valued at $90,000. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Price Performance

Federated Hermes stock traded down $0.47 during midday trading on Monday, hitting $48.81. The company's stock had a trading volume of 85,460 shares, compared to its average volume of 825,988. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $44.13 and its 200-day moving average price is $40.90. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $49.70. The company has a market capitalization of $3.86 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.91 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The firm had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. During the same period in the previous year, the business earned $0.89 earnings per share. Federated Hermes's revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FHI has been the subject of several analyst reports. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, July 10th. Finally, Evercore ISI upped their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $42.50.

Insider Buying and Selling

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

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.