Arrowstreet Capital Limited Partnership Raises Holdings in Federated Hermes, Inc. (NYSE:FHI)

Arrowstreet Capital Limited Partnership raised its holdings in Federated Hermes, Inc. (NYSE:FHI) by 51.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 818,408 shares of the company’s stock after purchasing an additional 278,524 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.00% of Federated Hermes worth $33,645,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Federated Hermes in the 4th quarter valued at about $292,000. Inspire Investing LLC acquired a new stake in shares of Federated Hermes during the fourth quarter valued at about $829,000. Charles Schwab Investment Management Inc. raised its stake in shares of Federated Hermes by 19.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after acquiring an additional 145,878 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock worth $916,000 after acquiring an additional 10,135 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new position in shares of Federated Hermes during the 4th quarter worth approximately $727,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $41.16 on Thursday. The business has a 50-day simple moving average of $39.12 and a 200-day simple moving average of $39.52. The company has a market cap of $3.35 billion, a PE ratio of 12.90, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, 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 issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of a number of research reports. UBS Group upped their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, Evercore ISI set a $44.00 target price on shares of Federated Hermes in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has an average rating of “Hold” and an average price target 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.