Vanguard Group Inc. Grows Stock Holdings in Federated Hermes, Inc. $FHI

Key Points

• Vanguard Group Inc. raised its stake in Federated Hermes, Inc. by 3.1%, now owning approximately 8.76 million shares valued at $357 million.
• The stock has received mixed ratings from analysts, with consensus reflecting a "Hold" rating and an average price target of $47.00.
• Federated Hermes announced a quarterly dividend of $0.34, translating to an annual yield of 2.5% and a payout ratio of 30.16%.

Vanguard Group Inc. boosted its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,760,811 shares of the company's stock after buying an additional 265,590 shares during the period. Vanguard Group Inc. owned approximately 11.08% of Federated Hermes worth $357,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FHI. Farther Finance Advisors LLC grew its stake in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares in the last quarter. Quarry LP purchased a new position in Federated Hermes in the 4th quarter valued at approximately $37,000. UMB Bank n.a. grew its stake in Federated Hermes by 55.1% in the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock valued at $84,000 after buying an additional 734 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Federated Hermes in the 4th quarter valued at approximately $90,000. Finally, Asset Management One Co. Ltd. purchased a new position in Federated Hermes in the 1st quarter valued at approximately $120,000. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Trading Down 0.1%

Federated Hermes stock traded down $0.0450 during mid-day trading on Wednesday, hitting $52.5450. The company's stock had a trading volume of 121,031 shares, compared to its average volume of 829,100. 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 stock has a market cap of $4.08 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The business has a 50 day moving average price of $47.21 and a 200-day moving average price of $42.39. Federated Hermes, Inc. has a 12 month low of $33.29 and a 12 month high of $54.16.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.96 earnings per share. As a group, analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 2.6%. Federated Hermes's payout ratio is currently 30.16%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the sale, the vice president directly owned 316,930 shares of the company's stock, valued at $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.80% of the stock is owned by corporate insiders.

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.