Versor Investments LP Makes New Investment in Federated Hermes, Inc. $FHI

Key Points

• Versor Investments LP has invested approximately $1.46 million in Federated Hermes, acquiring 35,900 shares during the first quarter.
• Analysts have mixed views on Federated Hermes, with a current consensus rating of "Hold" and a price target of $47.00.
• The company reported a 5.5% increase in revenue year-over-year, posting $1.16 EPS for the last quarter, exceeding analyst expectations.

Versor Investments LP purchased a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,900 shares of the company's stock, valued at approximately $1,464,000.

A number of other hedge funds have also modified their holdings of the company. Schneider Downs Wealth Management Advisors LP boosted its position in shares of Federated Hermes by 12.6% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 89,504 shares of the company's stock worth $3,649,000 after purchasing an additional 10,044 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Federated Hermes by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 88,688 shares of the company's stock worth $3,616,000 after acquiring an additional 9,071 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Federated Hermes by 0.5% during the first quarter. HighTower Advisors LLC now owns 439,253 shares of the company's stock worth $17,908,000 after acquiring an additional 2,041 shares during the last quarter. Invesco Ltd. boosted its position in shares of Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock worth $96,533,000 after acquiring an additional 137,248 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Federated Hermes by 38.5% during the first quarter. Deutsche Bank AG now owns 24,213 shares of the company's stock worth $987,000 after acquiring an additional 6,734 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on FHI shares. Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Evercore ISI increased 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. Royal Bank Of Canada increased their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and increased their target price for the company from $40.00 to $54.00 in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Federated Hermes currently has an average rating of "Hold" and a consensus price target of $47.00.

Federated Hermes Stock Up 1.5%

Federated Hermes stock traded up $0.7650 during midday trading on Friday, hitting $53.4550. 357,103 shares of the company's stock were exchanged, compared to its average volume of 797,572. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. Federated Hermes, Inc. has a 12 month low of $33.29 and a 12 month high of $54.16. The firm has a 50-day moving average of $47.84 and a two-hundred day moving average of $42.65. The company has a market cap of $4.15 billion, a PE ratio of 11.85, a P/E/G ratio of 0.72 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly 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. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. During the same period last year, the business earned $0.96 EPS. The company's revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business 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 was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.5%. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction that occurred 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 in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

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.