Dimensional Fund Advisors LP Decreases Stake in Federated Hermes, Inc. $FHI

Dimensional Fund Advisors LP cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,248,200 shares of the company’s stock after selling 60,583 shares during the quarter. Dimensional Fund Advisors LP owned about 2.96% of Federated Hermes worth $127,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Federated Hermes by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 15,090 shares of the company’s stock valued at $856,000 after buying an additional 2,033 shares in the last quarter. Advisors Preferred LLC raised its position in shares of Federated Hermes by 75.0% in the first quarter. Advisors Preferred LLC now owns 8,823 shares of the company’s stock valued at $500,000 after buying an additional 3,781 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Federated Hermes in the first quarter valued at approximately $778,000. State of Michigan Retirement System lifted its stake in shares of Federated Hermes by 1.7% during the first quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock valued at $1,008,000 after buying an additional 300 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock valued at $9,240,000 after buying an additional 6,045 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $59.11 on Tuesday. Federated Hermes, Inc. has a twelve month low of $46.66 and a twelve month high of $60.77. The stock has a market capitalization of $4.49 billion, a P/E ratio of 11.46, a PEG ratio of 1.56 and a beta of 0.65. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $57.27 and its 200 day moving average price is $56.07.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts anticipate that Federated Hermes, Inc. will post 5.24 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s payout ratio is 29.46%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value of $216,800.00. Following the sale, the vice president owned 74,921 shares in the company, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FHI. Royal Bank Of Canada lifted their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Friday, July 17th. Evercore reiterated an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a research report on Monday, June 8th. Finally, TD Cowen decreased their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $55.75.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.