Principal Financial Group Inc. Acquires 822 Shares of Federated Hermes, Inc. (NYSE:FHI)

Principal Financial Group Inc. increased its holdings in Federated Hermes, Inc. (NYSE:FHI) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,445 shares of the company’s stock after purchasing an additional 822 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Federated Hermes worth $7,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FHI. Walleye Capital LLC boosted its position in Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after acquiring an additional 269 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Federated Hermes by 9.3% in the 1st quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock worth $217,000 after purchasing an additional 453 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Federated Hermes by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock worth $424,000 after purchasing an additional 474 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock worth $35,000 after purchasing an additional 614 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Federated Hermes by 7.7% in the 1st quarter. Diversified Trust Co now owns 8,807 shares of the company’s stock worth $359,000 after purchasing an additional 629 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FHI shares. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price target on Federated Hermes from $39.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 9th. Evercore ISI boosted their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Royal Bank Of Canada boosted their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.50.

Federated Hermes Stock Performance

FHI stock opened at $45.31 on Wednesday. The stock has a market capitalization of $3.58 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. Federated Hermes, Inc. has a 12-month low of $31.94 and a 12-month high of $46.84. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $43.31 and its 200 day simple moving average is $40.48.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $423.54 million for the quarter, compared to analysts’ expectations of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. As a group, research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.00%. Federated Hermes’s payout ratio is currently 38.31%.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president directly owned 316,930 shares in the company, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

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.