Invenomic Capital Management LP Invests $11.70 Million in Federated Hermes, Inc. $FHI

Key Points

• Invenomic Capital Management LP has invested approximately $11.70 million in Federated Hermes, acquiring around 286,885 shares in the first quarter.
• Federated Hermes reported a quarterly earnings per share (EPS) of $1.16, exceeding the expected $0.99, along with a revenue increase of 5.5% year-over-year.
• Several analysts have revised their price targets for Federated Hermes, with JPMorgan Chase upgrading the stock to a "neutral" rating and raising the target to $54.00.

Invenomic Capital Management LP purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 286,885 shares of the company's stock, valued at approximately $11,696,000. Invenomic Capital Management LP owned approximately 0.36% of Federated Hermes as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in FHI. Jacobs Levy Equity Management Inc. purchased a new stake in Federated Hermes in the 1st quarter valued at $11,208,000. EP Wealth Advisors LLC grew its holdings in Federated Hermes by 20.9% in the 1st quarter. EP Wealth Advisors LLC now owns 6,271 shares of the company's stock valued at $256,000 after buying an additional 1,084 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Federated Hermes by 5.5% in the 1st quarter. Baird Financial Group Inc. now owns 31,024 shares of the company's stock valued at $1,265,000 after buying an additional 1,607 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Federated Hermes by 1.0% in the 1st quarter. Panagora Asset Management Inc. now owns 90,635 shares of the company's stock valued at $3,695,000 after buying an additional 874 shares in the last quarter. Finally, Vident Advisory LLC grew its holdings in Federated Hermes by 3.3% in the 1st quarter. Vident Advisory LLC now owns 27,514 shares of the company's stock valued at $1,122,000 after buying an additional 879 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 1.8%

FHI stock opened at $53.54 on Friday. The company's 50 day moving average price is $49.73 and its 200 day moving average price is $43.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. Federated Hermes, Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $54.42. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.72 and a beta of 0.84.

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 the consensus estimate of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. During the same quarter last year, the company earned $0.96 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes's payout ratio is 30.16%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded 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 report on Monday, August 4th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. 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. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada increased their price target on Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $47.00.

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.

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