Jefferies Financial Group Inc. Takes $2.19 Million Position 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 stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares during the last quarter. Quarry LP purchased a new position in shares of Federated Hermes during the fourth quarter worth about $37,000. UMB Bank n.a. grew its holdings in shares of Federated Hermes by 55.1% during the first 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 shares of Federated Hermes during the fourth quarter worth about $90,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Federated Hermes during the first quarter worth about $120,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Trading Down 1.3%

NYSE FHI traded down $0.65 on Thursday, hitting $50.80. 328,815 shares of the stock were exchanged, compared to its average volume of 834,224. Federated Hermes, Inc. has a 52-week low of $31.94 and a 52-week high of $52.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.35. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 0.73 and a beta of 0.77. The company's 50-day moving average price is $45.36 and its two-hundred day moving average price is $41.52.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. The firm had revenue of $424.84 million during 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 business's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be issued a $0.34 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.7%. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

Insiders Place Their Bets

In other Federated Hermes 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 value of $255,241.98. Following the sale, the vice president directly owned 316,930 shares in the company, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FHI. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Evercore ISI upped their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $40.00 to $54.00 in a research note on Monday. Royal Bank Of Canada boosted their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 10th. Finally, TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Federated Hermes has a consensus rating of "Hold" and a consensus target price of $46.00.

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.