GAMMA Investing LLC Buys 75,022 Shares of Federated Hermes, Inc. (NYSE:FHI)

GAMMA Investing LLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 4,395.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,729 shares of the company's stock after purchasing an additional 75,022 shares during the period. GAMMA Investing LLC owned about 0.09% of Federated Hermes worth $3,128,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FHI. Entropy Technologies LP raised its stake in shares of Federated Hermes by 39.6% during the 4th quarter. Entropy Technologies LP now owns 8,139 shares of the company's stock worth $335,000 after purchasing an additional 2,307 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Federated Hermes during the 4th quarter worth $292,000. Legato Capital Management LLC raised its stake in shares of Federated Hermes by 84.3% during the 4th quarter. Legato Capital Management LLC now owns 44,054 shares of the company's stock worth $1,811,000 after purchasing an additional 20,148 shares during the period. Congress Asset Management Co. increased its holdings in Federated Hermes by 4.7% in the 4th quarter. Congress Asset Management Co. now owns 51,571 shares of the company's stock worth $2,120,000 after acquiring an additional 2,294 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company's stock worth $916,000 after acquiring an additional 10,135 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen raised Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Evercore ISI lifted their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Royal Bank of Canada lifted their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.33.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction that occurred 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 now owns 316,930 shares in the company, valued at $13,355,430.20. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Price Performance

FHI stock traded down $0.65 during mid-day trading on Friday, reaching $42.18. 722,110 shares of the company traded hands, compared to its average volume of 736,215. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a market capitalization of $3.34 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.00 and a beta of 0.78. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The company has a fifty day moving average price of $40.82 and a 200-day moving average price of $40.13.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. As a group, analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio (DPR) is 38.31%.

Federated Hermes Profile

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.