Prudential Financial Inc. Makes New $414,000 Investment in Federated Hermes, Inc. (NYSE:FHI)

Prudential Financial Inc. acquired a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,817 shares of the company's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after purchasing an additional 446,683 shares during the period. Barclays PLC raised its stake in Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company's stock worth $7,930,000 after buying an additional 150,017 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after acquiring an additional 145,878 shares in the last quarter. Sei Investments Co. grew its stake in Federated Hermes by 776.6% in the fourth quarter. Sei Investments Co. now owns 112,018 shares of the company's stock valued at $4,605,000 after acquiring an additional 99,240 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Federated Hermes by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company's stock valued at $45,982,000 after acquiring an additional 92,643 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Up 0.7 %

NYSE:FHI traded up $0.29 on Tuesday, hitting $38.46. The stock had a trading volume of 39,339 shares, compared to its average volume of 884,048. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The firm's fifty day simple moving average is $38.73 and its two-hundred day simple moving average is $39.58. The stock has a market cap of $3.13 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. 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 - Get Free Report) last issued its quarterly earnings results 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 return on equity of 30.31% and a net margin of 16.44%. Analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes's payout ratio is 38.87%.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total value 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. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Evercore ISI lowered their target price on shares of Federated Hermes from $42.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada lowered their price objective on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.17.

Federated Hermes 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.