Mirae Asset Global Investments Co. Ltd. Makes New Investment in Federated Hermes, Inc. (NYSE:FHI)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 63,497 shares of the company's stock, valued at approximately $2,584,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Federated Hermes at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHI. Bank of New York Mellon Corp increased its position in shares of Federated Hermes by 53.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock worth $52,493,000 after purchasing an additional 446,683 shares during the period. LSV Asset Management grew its stake in Federated Hermes by 48.2% during the fourth quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after buying an additional 283,300 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Federated Hermes by 51.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after buying an additional 278,524 shares in the last quarter. Norges Bank bought a new position in Federated Hermes in the 4th quarter valued at about $10,639,000. Finally, FMR LLC raised its position in shares of Federated Hermes by 4.5% in the 4th quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after buying an additional 253,553 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FHI. Royal Bank Of Canada lifted their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI boosted their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and a consensus price target of $42.33.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is currently owned by company insiders.

Federated Hermes Price Performance

Federated Hermes stock traded up $0.25 during mid-day trading on Friday, reaching $45.54. The company had a trading volume of 256,472 shares, compared to its average volume of 735,619. The business has a fifty day simple moving average of $42.63 and a 200 day simple moving average of $40.25. The company has a market cap of $3.60 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.86 and a beta of 0.78. Federated Hermes, Inc. has a fifty-two week low of $31.94 and a fifty-two week high of $45.62. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. The business had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.99%. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is currently 38.31%.

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.