LSV Asset Management Buys 859,053 Shares of Federated Hermes, Inc. $FHI

LSV Asset Management raised its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 77.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,966,142 shares of the company’s stock after buying an additional 859,053 shares during the quarter. LSV Asset Management’s holdings in Federated Hermes were worth $87,139,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. AdvisorNet Financial Inc bought a new position in shares of Federated Hermes during the second quarter valued at $44,000. Northwestern Mutual Wealth Management Co. boosted its stake in Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after purchasing an additional 287 shares in the last quarter. Virtus Advisers LLC purchased a new stake in Federated Hermes during the 1st quarter valued at about $72,000. GAMMA Investing LLC grew its position in Federated Hermes by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $101,000 after purchasing an additional 401 shares during the last quarter. Finally, Assetmark Inc. bought a new stake in Federated Hermes during the 2nd quarter valued at about $132,000. 75.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FHI. Cowen reiterated a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Evercore ISI boosted their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.67.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total transaction of $728,100.00. Following the completion of the sale, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at approximately $7,622,673.06. This represents a 8.72% 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. Company insiders own 3.80% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI opened at $47.97 on Tuesday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 10.64, a PEG ratio of 0.54 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. The business has a fifty day moving average of $51.05 and a 200 day moving average of $48.20.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.23. The business had revenue of $469.45 million for the quarter, compared to analysts’ expectations of $442.67 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. Federated Hermes’s dividend payout ratio (DPR) is presently 28.39%.

Federated Hermes Company Profile

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.