Jefferies Financial Group Inc. Invests $2.19 Million in Federated Hermes, Inc. (NYSE:FHI)

Key Points

• Jefferies Financial Group Inc. invested approximately $2.19 million in Federated Hermes, acquiring 53,600 shares, which brings their total ownership to about 0.07% of the company.
• Federated Hermes recently declared a quarterly dividend of $0.34 per share, reflecting a 2.8% yield, payable on August 15th.
• The company reported an earnings per share of $1.16 for the last quarter, exceeding analysts’ expectations and marking a 5.5% increase in revenue compared to the previous year.

Jefferies Financial Group Inc. acquired a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,600 shares of the company's stock, valued at approximately $2,185,000. Jefferies Financial Group Inc. owned about 0.07% of Federated Hermes as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares in the last quarter. Quarry LP acquired a new stake in shares of Federated Hermes in the fourth quarter valued at $37,000. UMB Bank n.a. grew its stake in shares of Federated Hermes by 55.1% in the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock valued at $84,000 after buying an additional 734 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Federated Hermes in the fourth quarter valued at $90,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Federated Hermes in the first quarter valued at $120,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction 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 trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.

Federated Hermes Stock Performance

Shares of FHI stock opened at $49.25 on Monday. The company has a current ratio of 3.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $44.81 and a 200 day moving average price of $41.29. The company has a market cap of $3.90 billion, a P/E ratio of 10.92, a PEG ratio of 0.91 and a beta of 0.77. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $50.09.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 8th. Federated Hermes's dividend payout ratio (DPR) is currently 38.31%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FHI shares. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Evercore ISI increased their price objective on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their price objective on Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.50.

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.

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