Arrowstreet Capital Limited Partnership Buys 152,134 Shares of Federated Hermes, Inc. $FHI

Arrowstreet Capital Limited Partnership grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 21.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 852,594 shares of the company’s stock after buying an additional 152,134 shares during the period. Arrowstreet Capital Limited Partnership owned 1.10% of Federated Hermes worth $37,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Federated Hermes during the second quarter valued at approximately $1,132,000. MBM Wealth Consultants LLC boosted its holdings in Federated Hermes by 6.6% in the 2nd quarter. MBM Wealth Consultants LLC now owns 9,171 shares of the company’s stock valued at $406,000 after purchasing an additional 568 shares during the period. Panagora Asset Management Inc. grew its position in shares of Federated Hermes by 0.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 91,108 shares of the company’s stock valued at $4,038,000 after purchasing an additional 473 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Federated Hermes by 31.5% in the second quarter. Hsbc Holdings PLC now owns 47,884 shares of the company’s stock worth $2,115,000 after purchasing an additional 11,468 shares during the period. Finally, Capital Fund Management S.A. increased its holdings in shares of Federated Hermes by 143.6% in the second quarter. Capital Fund Management S.A. now owns 40,352 shares of the company’s stock worth $1,788,000 after purchasing an additional 23,786 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 0.2%

Shares of NYSE FHI opened at $50.85 on Friday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 10.62, a PEG ratio of 0.54 and a beta of 0.76. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. The firm’s 50 day simple moving average is $50.18 and its two-hundred day simple moving average is $48.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.13 and a quick ratio of 2.58.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The firm had revenue of $469.45 million during the quarter, compared to analyst estimates of $442.67 million. During the same period in the previous year, the business posted $1.06 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is 28.39%.

Insider Transactions at Federated Hermes

In other news, VP Dolores D. Dudiak sold 999 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.87, for a total value of $47,822.13. Following the completion of the sale, the vice president owned 88,223 shares of the company’s stock, valued at approximately $4,223,235.01. The trade was a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard A. Novak sold 1,249 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the sale, the insider owned 57,500 shares of the company’s stock, valued at $2,751,375. This represents a 2.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 21,709 shares of company stock worth $1,049,146. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

FHI has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Royal Bank Of Canada boosted their price objective on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. Cowen restated a “hold” rating on shares of Federated Hermes in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.67.

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.