Wellington Management Group LLP raised its stake in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 87.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,139,694 shares of the company’s stock after acquiring an additional 533,083 shares during the period. Wellington Management Group LLP owned 1.32% of Federated Hermes worth $38,601,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ergoteles LLC lifted its position in Federated Hermes by 368.9% in the second quarter. Ergoteles LLC now owns 277,818 shares of the company’s stock worth $9,960,000 after purchasing an additional 218,570 shares during the period. Graham Capital Management L.P. lifted its position in Federated Hermes by 54.4% in the third quarter. Graham Capital Management L.P. now owns 99,425 shares of the company’s stock worth $3,368,000 after purchasing an additional 35,032 shares during the period. FMR LLC lifted its position in Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after purchasing an additional 562,232 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Federated Hermes in the third quarter worth approximately $1,016,000. Finally, Legato Capital Management LLC lifted its position in Federated Hermes by 111.7% in the third quarter. Legato Capital Management LLC now owns 34,788 shares of the company’s stock worth $1,178,000 after purchasing an additional 18,355 shares during the period. 76.65% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Federated Hermes
In other news, VP Meter Stephen Van sold 1,660 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares in the company, valued at $1,145,557.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Meter Stephen Van sold 1,660 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the sale, the vice president now owns 31,689 shares in the company, valued at $1,145,557.35. The disclosure for this sale can be found here. Insiders have sold a total of 115,435 shares of company stock worth $4,092,831 over the last 90 days. Insiders own 5.20% of the company’s stock.
Wall Street Analyst Weigh In
FHI has been the topic of several research reports. UBS Group initiated coverage on Federated Hermes in a report on Friday, January 5th. They issued a “neutral” rating and a $35.00 price target on the stock. Royal Bank of Canada upped their price target on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upped their price target on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Finally, TD Cowen initiated coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.43.
View Our Latest Analysis on FHI
Federated Hermes Trading Up 0.4 %
Shares of NYSE FHI opened at $35.64 on Thursday. The business has a 50 day simple moving average of $35.21 and a 200 day simple moving average of $33.85. Federated Hermes, Inc. has a 52 week low of $30.23 and a 52 week high of $45.55. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. Federated Hermes’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, research analysts predict that Federated Hermes, Inc. will post 3.64 earnings per share for the current fiscal year.
Federated Hermes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 dividend on an annualized basis and a yield of 3.14%. Federated Hermes’s payout ratio is currently 32.84%.
About Federated Hermes
(Free Report)
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.
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