Federated Hermes, Inc. (NYSE:FHI) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Federated Hermes, Inc. (NYSE:FHI) by 387.6% during the 3rd quarter, Holdings Channel reports. The fund owned 159,561 shares of the company’s stock after acquiring an additional 126,840 shares during the quarter. Victory Capital Management Inc.’s holdings in Federated Hermes were worth $5,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in Federated Hermes by 3.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock valued at $336,000 after acquiring an additional 275 shares during the period. UMB Bank n.a. boosted its stake in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. GAMMA Investing LLC boosted its stake in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares in the last quarter. Acadian Asset Management LLC raised its position in Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after acquiring an additional 643 shares in the last quarter. Finally, James Investment Research Inc. lifted its holdings in Federated Hermes by 9.7% in the 3rd quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock valued at $290,000 after acquiring an additional 700 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Price Performance

NYSE FHI opened at $42.34 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The company has a 50 day simple moving average of $38.68 and a 200-day simple moving average of $35.15. Federated Hermes, Inc. has a 52-week low of $31.08 and a 52-week high of $42.56.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now directly owns 310,767 shares in the company, valued at $12,862,646.13. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock valued at $1,185,871 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the topic of a number of research reports. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Evercore ISI boosted their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada upped their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, UBS Group raised their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

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.