LSV Asset Management Acquires 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 boosted its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 27.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,107,089 shares of the company's stock after buying an additional 236,313 shares during the period. LSV Asset Management owned 1.40% of Federated Hermes worth $45,136,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC boosted its position in shares of Federated Hermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock valued at $277,000 after purchasing an additional 249 shares in the last quarter. Walleye Capital LLC lifted its stake in Federated Hermes by 4.1% during the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock valued at $283,000 after purchasing an additional 269 shares during the last quarter. Pacer Advisors Inc. boosted 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 worth $485,000 after buying an additional 286 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Federated Hermes by 1.9% in the first quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company's stock worth $681,000 after buying an additional 317 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Federated Hermes by 11.2% in the first quarter. Signaturefd LLC now owns 4,354 shares of the company's stock valued at $178,000 after buying an additional 439 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Stock Up 0.0%

Shares of FHI traded up $0.01 during midday trading on Wednesday, reaching $51.42. 715,731 shares of the stock were exchanged, compared to its average volume of 837,738. The company has a quick ratio of 2.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.94 and a beta of 0.77. Federated Hermes, Inc. has a 12-month low of $31.94 and a 12-month high of $51.63. The firm has a 50 day simple moving average of $45.17 and a 200-day simple moving average of $41.45.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.17. The business 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%. Federated Hermes's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes's dividend payout ratio is currently 30.16%.

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 that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

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

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.