Russell Investments Group Ltd. Has $3.62 Million Position in Federated Hermes, Inc. $FHI

Key Points

• Russell Investments Group Ltd. increased its stake in Federated Hermes, Inc. by 11.4% during the 1st quarter, now owning 88,688 shares valued at approximately $3.6 million.
• Federated Hermes reported quarterly earnings exceeding expectations with an EPS of $1.16, surpassing the consensus estimate of $0.99, and had a revenue of $424.84 million.
• The company declared a quarterly dividend of $0.34, providing a yield of 2.5%, with a payout ratio of 30.16% and announced insider selling activity by VP Paul A. Uhlman.

Russell Investments Group Ltd. boosted its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,688 shares of the company's stock after acquiring an additional 9,071 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Federated Hermes worth $3,616,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock valued at $130,446,000 after buying an additional 2,284,509 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Federated Hermes by 3.1% during the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after buying an additional 265,590 shares during the last quarter. LSV Asset Management raised its holdings in shares of Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock valued at $45,136,000 after buying an additional 236,313 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of 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 buying an additional 149,348 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $5,817,000. Institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded down $0.46 on Friday, hitting $53.15. 594,684 shares of the company were exchanged, compared to its average volume of 726,030. The company's 50 day moving average price is $48.97 and its two-hundred day moving average price is $43.16. Federated Hermes, Inc. has a one year low of $33.29 and a one year high of $54.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.73 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.6%. Federated Hermes's payout ratio is presently 30.16%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FHI. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $40.00 to $54.00 in a report on Monday, August 4th. Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 14th. Evercore ISI lifted their target price on shares of Federated Hermes from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.00.

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.