Arrowstreet Capital Limited Partnership Cuts Holdings in Federated Hermes, Inc. $FHI

Arrowstreet Capital Limited Partnership trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 814,224 shares of the company’s stock after selling 34,371 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.07% of Federated Hermes worth $46,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Federated Hermes by 1.7% in the fourth quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock worth $158,097,000 after buying an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Federated Hermes by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock valued at $157,879,000 after buying an additional 12,348 shares during the period. Invesco Ltd. increased its stake in Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after purchasing an additional 670,643 shares during the period. LSV Asset Management raised its holdings in Federated Hermes by 20.4% in the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after acquiring an additional 489,275 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Federated Hermes by 3,229.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after acquiring an additional 2,577,442 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $59.11 on Tuesday. 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 stock has a market cap of $4.49 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65. Federated Hermes, Inc. has a 1-year low of $46.66 and a 1-year high of $60.77. The stock’s fifty day simple moving average is $57.27 and its two-hundred day simple moving average is $56.07.

Federated Hermes (NYSE:FHI) last announced its quarterly 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. The firm had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. As a group, analysts forecast that Federated Hermes, Inc. will post 5.24 EPS for the current fiscal year.

Federated Hermes Increases Dividend

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

Insider Buying and Selling at Federated Hermes

In other news, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the transaction, the vice president owned 74,921 shares in the company, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by insiders.

Federated Hermes Company 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.