Acadian Asset Management LLC Raises Stake in Federated Hermes, Inc. (NYSE:FHI)

Acadian Asset Management LLC boosted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 23.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,402 shares of the company’s stock after buying an additional 643 shares during the quarter. Acadian Asset Management LLC’s holdings in Federated Hermes were worth $111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FHI. Wellington Management Group LLP lifted its holdings in shares of Federated Hermes by 59.1% in the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after buying an additional 673,496 shares during the period. Norges Bank purchased a new stake in Federated Hermes in the 4th quarter worth approximately $12,474,000. Goldman Sachs Group Inc. grew its stake in shares of Federated Hermes by 39.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after purchasing an additional 335,737 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. Finally, Interval Partners LP lifted its stake in shares of Federated Hermes by 60.4% in the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock valued at $14,804,000 after purchasing an additional 154,370 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

NYSE FHI opened at $35.98 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock’s 50 day simple moving average is $34.17 and its 200-day simple moving average is $33.97. The company has a market cap of $3.03 billion, a PE ratio of 10.22, a price-to-earnings-growth 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.

Federated Hermes (NYSE:FHI) last announced its 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 company had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s quarterly 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. As a group, equities research analysts anticipate that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.31 dividend. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.45%. Federated Hermes’s dividend payout ratio is presently 35.23%.

Insiders Place Their Bets

In related news, VP John B. Fisher sold 79,830 shares of the 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 completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Federated Hermes 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.