SG Americas Securities LLC Makes New $401,000 Investment in Federated Hermes, Inc. (NYSE:FHI)

SG Americas Securities LLC bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 9,832 shares of the company's stock, valued at approximately $401,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Walleye Capital LLC grew its holdings in shares of Federated Hermes by 4.1% during the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock worth $283,000 after purchasing an additional 269 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Federated Hermes by 1.0% during the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company's stock valued at $1,341,000 after acquiring an additional 313 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Federated Hermes by 4.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company's stock valued at $424,000 after acquiring an additional 474 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares in the last quarter. Finally, Cadence Bank increased its holdings in shares of Federated Hermes by 0.6% during the fourth quarter. Cadence Bank now owns 123,058 shares of the company's stock valued at $5,059,000 after acquiring an additional 730 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's 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 now directly owns 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Up 1.4%

Shares of Federated Hermes stock opened at $43.56 on Wednesday. The firm's 50 day moving average price is $41.52 and its 200-day moving average price is $40.11. The company has a market cap of $3.45 billion, a P/E ratio of 12.27, a PEG ratio of 0.81 and a beta of 0.78. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 52-week low of $31.94 and a 52-week high of $43.92.

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

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.12%. Federated Hermes's payout ratio is presently 38.31%.

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.

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