Federated Hermes, Inc. $FHI Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Federated Hermes by 6.2%, now holding approximately 2.99% of the company with a total investment of $96,533,000 after acquiring 137,248 shares.
• Fedex Hermes reported earnings of $1.16 per share for the last quarter, exceeding estimates, with revenue of $424.84 million, marking a 5.5% increase year-over-year.
• The firm declared a quarterly dividend of $0.34 per share, translating to an annualized yield of 2.5%, with a dividend payout ratio of 30.16%.

Invesco Ltd. lifted its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,367,754 shares of the company's stock after buying an additional 137,248 shares during the period. Invesco Ltd. owned approximately 2.99% of Federated Hermes worth $96,533,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares during the last quarter. Quarry LP purchased a new position in Federated Hermes during the 4th quarter worth $37,000. UMB Bank n.a. grew its position in Federated Hermes by 55.1% during the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after purchasing an additional 734 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Federated Hermes during the 4th quarter worth $90,000. Finally, Asset Management One Co. Ltd. purchased a new position in Federated Hermes during the 1st quarter worth $120,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction that occurred on 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 $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.

Federated Hermes Price Performance

Shares of NYSE FHI traded up $0.0950 on Wednesday, hitting $52.6850. The company's stock had a trading volume of 144,606 shares, compared to its average volume of 829,230. The stock has a 50 day moving average of $47.21 and a 200-day moving average of $42.39. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. Federated Hermes, Inc. has a 12-month low of $33.29 and a 12-month high of $54.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a $0.34 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes's dividend payout ratio is currently 30.16%.

Analyst Upgrades and Downgrades

FHI has been the topic of several research reports. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 14th. Evercore ISI raised their price objective on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.00.

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.