LSV Asset Management Purchases 236,313 Shares of Federated Hermes, Inc. (NYSE:FHI)

Key Points

• LSV Asset Management increased its holdings in Federated Hermes, Inc. by 27.1%, acquiring an additional 236,313 shares, bringing its total ownership to over 1.1 million shares worth approximately $45.1 million.
• The company recently announced a quarterly dividend of $0.34 per share, yielding 2.8%, with payment scheduled for August 15 to investors of record by August 8.
• Despite positive earnings results, analyst ratings are mixed, with price targets ranging from $39 to $45 and a consensus rating of "Hold".

LSV Asset Management lifted its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 27.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,107,089 shares of the company's stock after buying an additional 236,313 shares during the quarter. LSV Asset Management owned approximately 1.40% of Federated Hermes worth $45,136,000 at the end of the most recent quarter.

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

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the firm's 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 completion of the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on FHI. Royal Bank Of Canada raised 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. Evercore ISI raised their price target on Federated Hermes from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Monday. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and raised their price target for the company from $40.00 to $54.00 in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $46.00.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded down $0.65 during trading on Thursday, hitting $50.80. The company's stock had a trading volume of 328,815 shares, compared to its average volume of 834,224. The company has a 50-day moving average of $45.36 and a 200-day moving average of $41.52. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month 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 firm has a market cap 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.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. During the same period last year, the firm posted $0.96 EPS. The company's revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

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

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.