GAMMA Investing LLC Buys 349 Shares of Federated Hermes, Inc. (NYSE:FHI)

GAMMA Investing LLC boosted its stake in Federated Hermes, Inc. (NYSE:FHI) by 49.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,061 shares of the company’s stock after purchasing an additional 349 shares during the period. GAMMA Investing LLC’s holdings in Federated Hermes were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its holdings in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares in the last quarter. Mather Group LLC. acquired a new position in Federated Hermes in the 2nd quarter worth about $47,000. CWM LLC raised its position in Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after purchasing an additional 317 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FHI. UBS Group cut their target price on shares of 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 raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. TD Cowen cut their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada increased their price target on Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $38.41 on Friday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.41 and a beta of 1.16. The firm’s 50-day moving average price is $35.18 and its 200-day moving average price is $34.13. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $38.42.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities research analysts anticipate that Federated Hermes, Inc. will post 3.63 earnings per share 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 issued a $0.31 dividend. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

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.