Federated Hermes, Inc. $FHI Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Federated Hermes, Inc. (NYSE:FHI) by 36.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,278 shares of the company’s stock after purchasing an additional 31,240 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Federated Hermes were worth $6,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FHI. Schneider Downs Wealth Management Advisors LP grew its holdings in Federated Hermes by 3,229.0% during 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 purchasing an additional 2,577,442 shares in the last quarter. Victory Capital Management Inc. increased its stake in Federated Hermes by 2,410.2% during the 3rd quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock worth $40,479,000 after buying an additional 748,439 shares during the period. Invesco Ltd. lifted its holdings in Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after buying an additional 670,643 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Federated Hermes by 2,427.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after buying an additional 506,500 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Federated Hermes by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after buying an additional 498,202 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FHI shares. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Thursday, January 22nd. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $55.00 target price (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Federated Hermes has an average rating of “Hold” and an average price target of $55.00.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 72,392 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the completion of the sale, the vice president directly owned 263,987 shares in the company, valued at approximately $14,843,989.01. This trade represents a 21.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Down 2.2%

Shares of Federated Hermes stock opened at $56.06 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.30. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $57.99. The business’s fifty day moving average price is $55.10 and its two-hundred day moving average price is $52.66. The company has a market capitalization of $4.26 billion, a P/E ratio of 10.91, a PEG ratio of 1.96 and a beta of 0.73.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The company had revenue of $482.83 million for the quarter, compared to analysts’ expectations of $468.45 million. During the same period last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. Federated Hermes’s dividend payout ratio is currently 26.46%.

About Federated Hermes

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.