Seven Eight Capital LP Makes New $682,000 Investment in Federated Hermes, Inc. (NYSE:FHI)

Seven Eight Capital LP bought a new stake in Federated Hermes, Inc. (NYSE:FHI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,735 shares of the company’s stock, valued at approximately $682,000.

Several other hedge funds have also made changes to their positions in FHI. Charles Schwab Investment Management Inc. lifted its position in Federated Hermes by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 479,008 shares of the company’s stock worth $16,219,000 after acquiring an additional 1,296 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Federated Hermes by 111.4% during the fourth quarter. BNP Paribas Financial Markets now owns 21,628 shares of the company’s stock worth $732,000 after purchasing an additional 11,396 shares during the last quarter. Principal Financial Group Inc. grew its position in Federated Hermes by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 356,865 shares of the company’s stock valued at $12,083,000 after buying an additional 5,636 shares during the last quarter. Norges Bank acquired a new position in Federated Hermes in the 4th quarter valued at $12,474,000. Finally, Ontario Teachers Pension Plan Board raised its position in Federated Hermes by 151.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 28,933 shares of the company’s stock worth $980,000 after buying an additional 17,418 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE FHI opened at $35.98 on Friday. The business has a 50 day moving average price of $34.17 and a 200 day moving average price of $33.97. The company has a market capitalization of $3.03 billion, a P/E ratio of 10.22, a PEG ratio of 1.33 and a beta of 1.16. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. Sell-side analysts expect that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were given a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.45%. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Transactions at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the topic of several analyst reports. StockNews.com downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. TD Cowen dropped their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. UBS Group dropped their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Evercore ISI reduced their target price on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.67.

About Federated Hermes

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.