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

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares during the period. Quarry LP purchased a new position in shares of Federated Hermes in the fourth quarter valued at about $37,000. UMB Bank n.a. increased its position 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 valued at $84,000 after acquiring an additional 734 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Federated Hermes in the fourth quarter valued at about $90,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Federated Hermes in the first quarter valued at about $120,000. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

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

Federated Hermes Stock Down 1.0%

NYSE:FHI traded down $0.52 during mid-day trading on Thursday, hitting $53.58. 242,552 shares of the company's stock were exchanged, compared to its average volume of 816,528. 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 current ratio of 3.37 and a quick ratio of 2.32. The business has a fifty day moving average price of $48.53 and a 200 day moving average price of $42.95. The company has a market cap of $4.16 billion, a PE ratio of 11.88, a P/E/G ratio of 0.73 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Equities analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 8th. Federated Hermes's dividend payout ratio is currently 30.16%.

About Federated Hermes

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.