Algert Global LLC Purchases 89,140 Shares of Federated Hermes, Inc. (NYSE:FHI)

Algert Global LLC lifted its position in Federated Hermes, Inc. (NYSE:FHI) by 34.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 349,802 shares of the company’s stock after acquiring an additional 89,140 shares during the period. Federated Hermes accounts for about 0.4% of Algert Global LLC’s investment portfolio, making the stock its 25th largest holding. Algert Global LLC owned about 0.42% of Federated Hermes worth $11,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its position in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after buying an additional 711 shares in the last quarter. Mather Group LLC. bought a new position in Federated Hermes during the 2nd quarter valued at approximately $47,000. CWM LLC increased its position in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after buying an additional 1,311 shares in the last quarter. UMB Bank n.a. increased its position in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares in the last quarter. Finally, Neo Ivy Capital Management increased its position in Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after buying an additional 1,224 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Cowen reduced their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. UBS Group reduced their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and an average price target of $37.67.

Federated Hermes Stock Performance

FHI stock opened at $36.99 on Friday. The company has a market cap of $3.11 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $37.43. 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 fifty day moving average price is $34.41 and its 200-day moving average price is $34.02.

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 analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million for 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 company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. On average, equities analysts forecast that Federated Hermes, Inc. will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.31 dividend. This is an increase 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 3.35%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

Insider Transactions at Federated Hermes

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

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.