Vanguard Group Inc. Buys 68,974 Shares of Federated Hermes, Inc. (NYSE:FHI)

Vanguard Group Inc. increased its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,568,361 shares of the company's stock after buying an additional 68,974 shares during the period. Vanguard Group Inc. owned about 9.93% of Federated Hermes worth $290,210,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Federated Hermes in the second quarter valued at approximately $29,000. Signaturefd LLC lifted its holdings in shares of Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company's stock worth $28,000 after purchasing an additional 343 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Federated Hermes during the second quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Federated Hermes during the second quarter worth $51,000. Finally, CENTRAL TRUST Co lifted its holdings in shares of Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company's stock worth $50,000 after purchasing an additional 1,150 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

Shares of FHI stock traded up $0.51 during mid-day trading on Friday, reaching $36.12. The stock had a trading volume of 1,207,044 shares, compared to its average volume of 820,501. Federated Hermes, Inc. has a 12-month low of $30.23 and a 12-month high of $45.55. The company has a market cap of $3.05 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The business has a 50-day simple moving average of $35.42 and a 200 day simple moving average of $33.91. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.12. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The business had revenue of $391.50 million during the quarter, compared to analysts' expectations of $396.97 million. During the same quarter last year, the business posted $0.90 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.64 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, February 7th. Federated Hermes's dividend payout ratio is presently 32.84%.

Analyst Ratings Changes

Several brokerages recently weighed in on FHI. JPMorgan Chase & Co. increased their price target on Federated Hermes from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, January 18th. UBS Group began coverage on Federated Hermes in a report on Friday, January 5th. They issued a "neutral" rating and a $35.00 target price for the company. TD Cowen began coverage on Federated Hermes in a report on Thursday, January 4th. They issued a "market perform" rating and a $32.00 target price for the company. Finally, Royal Bank of Canada raised their target price on Federated Hermes from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.43.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Paul A. Uhlman sold 13,820 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the completion of the sale, the vice president now owns 276,084 shares in the company, valued at approximately $9,994,240.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the sale, the vice president now owns 289,904 shares of the company's stock, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,435 shares of company stock worth $4,092,831. 3.70% of the stock is owned by corporate insiders.

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.