Magnetar Financial LLC Takes $3.63 Million Position in Federated Hermes, Inc. $FHI

Magnetar Financial LLC bought a new stake in Federated Hermes, Inc. (NYSE:FHI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 81,786 shares of the company’s stock, valued at approximately $3,625,000.

Several other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock worth $130,446,000 after buying an additional 2,284,509 shares during the last quarter. LSV Asset Management lifted its position in shares of Federated Hermes by 77.6% in the second quarter. LSV Asset Management now owns 1,966,142 shares of the company’s stock valued at $87,139,000 after buying an additional 859,053 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Federated Hermes during the 1st quarter worth approximately $14,048,000. Invenomic Capital Management LP acquired a new position in shares of Federated Hermes during the 1st quarter worth approximately $11,696,000. Finally, Allianz Asset Management GmbH raised its stake in Federated Hermes by 49.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 840,996 shares of the company’s stock valued at $37,273,000 after acquiring an additional 277,117 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 999 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total transaction of $47,822.13. Following the completion of the transaction, the vice president directly owned 88,223 shares in the company, valued at $4,223,235.01. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the sale, the insider owned 57,500 shares of the company’s stock, valued at $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,709 shares of company stock valued at $1,049,146 over the last three months. 3.80% of the stock is owned by insiders.

Federated Hermes Stock Up 1.7%

Shares of NYSE FHI opened at $48.34 on Friday. The stock has a market capitalization of $3.75 billion, a P/E ratio of 10.72, a PEG ratio of 0.54 and a beta of 0.83. The stock’s fifty day moving average is $50.63 and its 200 day moving average is $48.28. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $54.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37.

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

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. Federated Hermes’s dividend payout ratio (DPR) is currently 28.39%.

Wall Street Analyst Weigh In

FHI has been the topic of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Cowen reissued a “hold” rating on shares of Federated Hermes in a report on Tuesday, November 4th. Evercore ISI boosted their price objective on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, TD Cowen upped their target price on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.67.

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.