DekaBank Deutsche Girozentrale Acquires Shares of 3,693 Federated Hermes, Inc. (NYSE:FHI)

DekaBank Deutsche Girozentrale bought a new position in Federated Hermes, Inc. (NYSE:FHI) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 3,693 shares of the company’s stock, valued at approximately $120,000.

Several other large investors have also recently modified their holdings of FHI. Vanguard Group Inc. raised its position in Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after purchasing an additional 45,214 shares during the period. Wellington Management Group LLP grew its stake in shares of Federated Hermes by 59.1% during the fourth 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 last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after buying an additional 335,737 shares during the period. Assenagon Asset Management S.A. lifted its stake 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 worth $37,555,000 after acquiring an additional 324,958 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $16,219,000 after acquiring an additional 1,296 shares during the period. Institutional investors own 75.94% of the company’s stock.

Insider Activity

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

Federated Hermes Stock Performance

Shares of FHI stock opened at $35.98 on Friday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.33 and a beta of 1.16. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $37.10. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $34.17 and its 200 day moving average is $33.97.

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

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.31 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FHI. Evercore ISI reduced their target price on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. TD Cowen decreased their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. StockNews.com lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, UBS Group lowered their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.