Voloridge Investment Management LLC Increases Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Voloridge Investment Management LLC grew its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 365,084 shares of the company's stock after purchasing an additional 46,627 shares during the period. Voloridge Investment Management LLC owned approximately 0.45% of Federated Hermes worth $15,009,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after purchasing an additional 446,683 shares during the period. LSV Asset Management boosted its position in Federated Hermes by 48.2% during the 4th quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after acquiring an additional 283,300 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Federated Hermes by 51.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after acquiring an additional 278,524 shares during the period. Norges Bank acquired a new stake in Federated Hermes during the 4th quarter worth about $10,639,000. Finally, FMR LLC boosted its position in Federated Hermes by 4.5% during the 4th quarter. FMR LLC now owns 5,919,888 shares of the company's stock worth $243,367,000 after acquiring an additional 253,553 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FHI. UBS Group lifted their price target on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Royal Bank of Canada boosted their price objective 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, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $42.33.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value 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. The trade was a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company's stock.

Federated Hermes Trading Up 0.5%

Federated Hermes stock traded up $0.22 during mid-day trading on Thursday, hitting $42.18. 110,551 shares of the stock were exchanged, compared to its average volume of 730,596. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The firm's fifty day simple moving average is $40.20 and its two-hundred day simple moving average is $40.12. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same quarter last year, the firm posted $0.89 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. 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.