Globeflex Capital L P Takes Position in Federated Hermes, Inc. (NYSE:FHI)

Globeflex Capital L P purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,700 shares of the company’s stock, valued at approximately $399,000.

Several other large investors have also modified their holdings of FHI. Bank of New York Mellon Corp lifted its position in shares of Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after acquiring an additional 152,926 shares during the last quarter. Barclays PLC lifted its holdings in Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after acquiring an additional 150,017 shares during the last quarter. FMR LLC lifted its holdings in Federated Hermes by 2.5% in the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after acquiring an additional 137,245 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Federated Hermes by 387.6% in the third quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock worth $5,867,000 after acquiring an additional 126,840 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Federated Hermes Price Performance

NYSE FHI opened at $39.04 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The firm has a market capitalization of $3.17 billion, a PE ratio of 12.24, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The company’s 50 day simple moving average is $38.64 and its 200 day simple moving average is $38.95.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a yield of 3.18%. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 11th. Evercore ISI set a $44.00 price target on Federated Hermes in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.17.

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.