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

Freestone Grove Partners LP purchased a new position in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 92,719 shares of the company's stock, valued at approximately $3,812,000. Freestone Grove Partners LP owned approximately 0.11% of Federated Hermes at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. 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. JPMorgan Chase & Co. restated an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. StockNews.com raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Royal Bank of Canada boosted their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and a consensus target price of $42.33.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the sale, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.80% of the company's stock.

Federated Hermes Stock Performance

Shares of NYSE FHI traded up $0.88 during mid-day trading on Thursday, hitting $42.84. The stock had a trading volume of 157,899 shares, compared to its average volume of 724,743. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The company has a 50 day moving average of $39.07 and a two-hundred day moving average of $39.84. The firm has a market cap of $3.39 billion, a PE ratio of 13.42, a PEG ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month high of $43.92.

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

Federated Hermes Increases Dividend

The business also recently disclosed 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 represents a $1.36 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's payout ratio is 38.31%.

Federated Hermes Company 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.