Freestone Grove Partners LP Buys Shares of 92,719 Federated Hermes, Inc. (NYSE:FHI)

Freestone Grove Partners LP acquired a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 92,719 shares of the company's stock, valued at approximately $3,812,000. Freestone Grove Partners LP owned about 0.11% of Federated Hermes at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in Federated Hermes during the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in shares of Federated Hermes during the fourth quarter valued at approximately $43,000. Sound Income Strategies LLC purchased a new stake in Federated Hermes in the 4th quarter valued at $53,000. GAMMA Investing LLC lifted its stake in Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock valued at $70,000 after acquiring an additional 646 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in Federated Hermes during the 4th quarter worth $73,000. 75.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FHI. Evercore ISI increased their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. StockNews.com upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Finally, UBS Group upped their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.67.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by company insiders.

Federated Hermes Stock Performance

Shares of FHI stock traded up $0.45 on Tuesday, hitting $41.99. 713,365 shares of the stock were exchanged, compared to its average volume of 730,541. The firm's 50 day moving average is $38.92 and its two-hundred day moving average is $39.80. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The firm has a market capitalization of $3.32 billion, a PE ratio of 13.16, a P/E/G ratio of 1.00 and a beta of 0.77. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

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, topping the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million during 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 was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

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

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.