LPL Financial LLC Acquires 72,173 Shares of Federated Hermes, Inc. (NYSE:FHI)

Key Points

• LPL Financial LLC increased its stake in Federated Hermes by 373.9%, acquiring 72,173 shares to reach a total of 91,474 shares, valued around $3.73 million.
• The company reported earnings per share of $1.16 for the last quarter, exceeding expectations and marking a 5.5% increase in revenue year-over-year.
• Federated Hermes announced a quarterly dividend of $0.34, representing a yield of 2.5%, with a dividend payout ratio of 30.16%.

LPL Financial LLC boosted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 373.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,474 shares of the company's stock after acquiring an additional 72,173 shares during the quarter. LPL Financial LLC owned approximately 0.12% of Federated Hermes worth $3,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Federated Hermes by 2.5% during the first quarter. Pacer Advisors Inc. now owns 11,900 shares of the company's stock valued at $485,000 after purchasing an additional 286 shares during the last quarter. Royce & Associates LP grew its holdings in Federated Hermes by 1.4% during the first quarter. Royce & Associates LP now owns 395,895 shares of the company's stock valued at $16,141,000 after purchasing an additional 5,500 shares during the last quarter. Burney Co. acquired a new position in Federated Hermes during the first quarter valued at approximately $4,878,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Federated Hermes by 32.6% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 187,633 shares of the company's stock valued at $7,650,000 after purchasing an additional 46,138 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Federated Hermes by 36.0% during the first quarter. Allianz Asset Management GmbH now owns 563,879 shares of the company's stock valued at $22,989,000 after purchasing an additional 149,348 shares during the last quarter. Institutional investors own 75.94% of the company's stock.

Federated Hermes Trading Down 0.4%

FHI stock opened at $53.71 on Friday. The business has a fifty day moving average price of $46.79 and a 200 day moving average price of $42.20. Federated Hermes, Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $54.16. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 0.77 and a beta of 0.77. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FHI shares. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. 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 note on Monday, August 4th. JPMorgan Chase & Co. upgraded 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 note on Monday, August 4th. Royal Bank Of Canada set a $51.00 price objective on shares of Federated Hermes and gave the stock a "sector perform" rating in a research note on Thursday. Finally, TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Federated Hermes presently has a consensus rating of "Hold" and a consensus price target of $47.00.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president directly 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company's stock.

About Federated Hermes

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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