QRG Capital Management Inc. Takes Position in Federated Hermes, Inc. $FHI

Key Points

• QRG Capital Management opened a new position in Federated Hermes during the first quarter, buying 42,683 shares worth about $2.42 million.
• Institutional ownership remains heavy, with several large funds increasing stakes in FHI and institutions now holding about 75.94% of the stock.
• Federated Hermes reported better-than-expected quarterly results and recently raised its dividend to $0.38 per share, while analysts currently rate the stock a consensus “Hold” with an average target price of $55.75.

QRG Capital Management Inc. acquired a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,683 shares of the company's stock, valued at approximately $2,421,000. QRG Capital Management Inc. owned 0.06% of Federated Hermes at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FHI. Schneider Downs Wealth Management Advisors LP raised its stake in shares of Federated Hermes by 3,229.0% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company's stock valued at $137,992,000 after acquiring an additional 2,577,442 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company's stock valued at $152,669,000 after acquiring an additional 670,643 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Federated Hermes by 78.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,394,622 shares of the company's stock valued at $72,618,000 after acquiring an additional 615,130 shares during the period. AQR Capital Management LLC boosted its position in Federated Hermes by 20.1% during the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company's stock valued at $132,024,000 after purchasing an additional 498,202 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Federated Hermes by 20.4% in the 4th quarter. LSV Asset Management now owns 2,890,276 shares of the company's stock worth $150,497,000 after buying an additional 489,275 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Insider Transactions at Federated Hermes

In related news, VP Bryan M. Burke sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the sale, the vice president owned 74,921 shares of the company's stock, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer owned 151,276 shares of the company's stock, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Evercore restated an "outperform" rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a "sector perform" rating in a report on Thursday. TD Cowen cut their target price on Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $55.75.

Federated Hermes Trading Up 0.7%

Shares of FHI stock traded up $0.41 during mid-day trading on Tuesday, hitting $58.31. 211,843 shares of the company's stock were exchanged, compared to its average volume of 744,263. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.02 and a beta of 0.65. The stock has a 50-day simple moving average of $56.46 and a two-hundred day simple moving average of $55.49. Federated Hermes, Inc. has a fifty-two week low of $45.03 and a fifty-two week high of $60.17.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $478.96 million during the quarter, compared to analysts' expectations of $475.22 million. During the same quarter in the previous year, the business earned $1.25 EPS. The company's revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts expect that Federated Hermes, Inc. will post 5.12 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This is a positive change from Federated Hermes's previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. Federated Hermes's payout ratio is currently 29.46%.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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