Gallacher Capital Management LLC Purchases Shares of 5,523 Federated Hermes, Inc. (NYSE:FHI)

Gallacher Capital Management LLC purchased a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,523 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHI. Hohimer Wealth Management LLC lifted its holdings in Federated Hermes by 3.8% during the first quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock valued at $277,000 after purchasing an additional 249 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock valued at $283,000 after acquiring an additional 269 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Federated Hermes by 1.9% in the first quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company's stock valued at $681,000 after acquiring an additional 317 shares during the period. Signaturefd LLC raised its stake in shares of Federated Hermes by 11.2% in the first quarter. Signaturefd LLC now owns 4,354 shares of the company's stock valued at $178,000 after acquiring an additional 439 shares during the period. Finally, Blue Trust Inc. increased its stake in Federated Hermes by 9.3% in the 1st quarter. Blue Trust Inc. now owns 5,314 shares of the company's stock worth $217,000 after buying an additional 453 shares during the period. Hedge funds and other institutional investors own 75.94% of the company's stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms have recently weighed in on FHI. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Royal Bank Of Canada lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 10th. 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 research report on Wednesday, July 9th. Finally, Evercore ISI boosted their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $42.50.

Federated Hermes Stock Performance

FHI stock traded up $0.11 during trading on Thursday, reaching $48.80. 238,364 shares of the company's stock were exchanged, compared to its average volume of 830,883. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1-year low of $31.94 and a 1-year high of $49.08. The company's fifty day moving average price is $43.89 and its 200-day moving average price is $40.75. The firm has a market cap of $3.86 billion, a PE ratio of 13.75, a P/E/G ratio of 0.89 and a beta of 0.78.

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

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.34 dividend. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 2.79%. The ex-dividend date was Thursday, May 8th. Federated Hermes's dividend payout ratio is presently 38.31%.

Federated Hermes Company 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.