Voloridge Investment Management LLC Raises Stake in Federated Hermes, Inc. (NYSE:FHI)

Voloridge Investment Management LLC lifted its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,084 shares of the company's stock after buying an additional 46,627 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.45% of Federated Hermes worth $15,009,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Federated Hermes in the fourth quarter worth about $37,000. R Squared Ltd bought a new stake in shares of Federated Hermes in the 4th quarter valued at about $43,000. Sound Income Strategies LLC purchased a new stake in shares of Federated Hermes in the 4th quarter worth approximately $53,000. C M Bidwell & Associates Ltd. bought a new position in shares of Federated Hermes during the fourth quarter valued at approximately $73,000. Finally, Lazard Asset Management LLC bought a new position in shares of Federated Hermes during the fourth quarter valued at approximately $90,000. Hedge funds and other institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Down 1.1%

FHI stock traded down $0.47 on Wednesday, hitting $41.96. 570,772 shares of the company's stock were exchanged, compared to its average volume of 733,999. The firm has a 50 day moving average price of $40.15 and a two-hundred day moving average price of $40.11. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The stock has a market cap of $3.32 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio (DPR) is currently 38.31%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FHI shares. UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Evercore ISI boosted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Federated Hermes currently has an average rating of "Hold" and an average price target of $42.33.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president now directly owns 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company's stock.

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.