Globeflex Capital L P Invests $399,000 in Federated Hermes, Inc. (NYSE:FHI)

Globeflex Capital L P bought a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,700 shares of the company's stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FHI. Bank of New York Mellon Corp grew its position 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 worth $52,493,000 after buying an additional 446,683 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company's stock valued at $28,282,000 after acquiring an additional 152,926 shares during the last quarter. Barclays PLC grew its holdings 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 acquiring an additional 150,017 shares in the last quarter. FMR LLC increased its position in shares of Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company's stock worth $208,351,000 after purchasing an additional 137,245 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Federated Hermes by 387.6% in the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company's stock valued at $5,867,000 after purchasing an additional 126,840 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently weighed in on FHI shares. UBS Group boosted their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. StockNews.com lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reduced their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and an average price target of $42.17.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the transaction, the chief executive officer now owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company's stock.

Federated Hermes Stock Performance

FHI traded down $0.13 during trading on Thursday, reaching $39.73. 781,772 shares of the company were exchanged, compared to its average volume of 787,650. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $38.63 and a 200 day moving average of $39.07. The stock has a market cap of $3.23 billion, a P/E ratio of 12.45, a PEG ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Federated Hermes's payout ratio is currently 38.87%.

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.