Russell Investments Group Ltd. Boosts Position in Federated Hermes, Inc. (NYSE:FHI)

Russell Investments Group Ltd. lifted its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 898.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,617 shares of the company's stock after buying an additional 71,641 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Federated Hermes worth $3,260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock worth $52,493,000 after purchasing an additional 446,683 shares during the period. Arrowstreet Capital Limited Partnership increased its stake 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 buying an additional 278,524 shares during the period. Norges Bank purchased a new stake in Federated Hermes during the 4th quarter worth approximately $10,639,000. Brandywine Global Investment Management LLC purchased a new position in Federated Hermes in the 4th quarter valued at approximately $6,841,000. Finally, Barclays PLC boosted its position in Federated Hermes by 228.6% in the 3rd quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after buying an additional 150,017 shares during the period. Institutional investors and hedge funds own 75.94% of the company's stock.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes 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 in the company, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by insiders.

Federated Hermes Stock Up 2.6 %

Shares of NYSE FHI traded up $0.94 during mid-day trading on Tuesday, reaching $37.19. The company had a trading volume of 762,683 shares, compared to its average volume of 730,489. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The stock has a market cap of $3.02 billion, a P/E ratio of 11.66, a PEG ratio of 1.00 and a beta of 0.84. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $38.60 and a two-hundred day simple moving average of $39.59.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, February 7th. Federated Hermes's payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

FHI has been the topic of several analyst reports. UBS Group increased 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. StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a report on Tuesday, January 28th. Finally, Evercore ISI reduced their price objective on shares of Federated Hermes from $42.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.17.

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.