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

Arrowstreet Capital Limited Partnership lessened its stake in Federated Hermes, Inc. (NYSE:FHI) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 814,224 shares of the company’s stock after selling 34,371 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Federated Hermes were worth $46,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Torren Management LLC acquired a new stake in shares of Federated Hermes during the fourth quarter worth $25,000. Root Financial Partners LLC lifted its position in Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after buying an additional 237 shares during the period. CIBC Private Wealth Group LLC increased its stake in Federated Hermes by 119.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock worth $38,000 after acquiring an additional 401 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after buying an additional 594 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Federated Hermes

In other news, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the transaction, the vice president owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the stock in a transaction dated Monday, June 8th. The shares were 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 approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FHI has been the topic of several research analyst reports. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore reiterated an “outperform” rating and issued a $59.00 target price on shares of Federated Hermes in a report on Monday, June 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Friday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Finally, TD Cowen dropped their price objective on shares of 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.75.

Federated Hermes Trading Up 2.1%

Federated Hermes stock opened at $59.11 on Tuesday. Federated Hermes, Inc. has a 52 week low of $46.66 and a 52 week high of $60.77. The firm has a market capitalization of $4.49 billion, a PE ratio of 11.46, a PEG ratio of 1.56 and a beta of 0.65. The business’s 50-day simple moving average is $57.27 and its 200-day simple moving average is $56.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.Federated Hermes’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Equities research analysts forecast that Federated Hermes, Inc. will post 5.24 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date 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%.

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.