Allianz Asset Management GmbH Has $52.36 Million Stock Holdings in Federated Hermes, Inc. $FHI

Allianz Asset Management GmbH boosted its position in Federated Hermes, Inc. (NYSE:FHI) by 19.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,008,221 shares of the company’s stock after buying an additional 167,225 shares during the period. Allianz Asset Management GmbH’s holdings in Federated Hermes were worth $52,357,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FHI. Jones Financial Companies Lllp increased its holdings in shares of Federated Hermes by 236.0% during the first quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock valued at $362,000 after acquiring an additional 6,244 shares in the last quarter. United Services Automobile Association acquired a new stake in Federated Hermes in the 1st quarter valued at $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Federated Hermes by 11.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock valued at $9,769,000 after purchasing an additional 24,960 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Federated Hermes by 8.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,662 shares of the company’s stock worth $3,043,000 after buying an additional 5,165 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in Federated Hermes by 2.8% during the second quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the company’s stock worth $1,928,000 after buying an additional 1,200 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Federated Hermes

In related news, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the transaction, the insider directly owned 57,500 shares in the company, valued at approximately $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 4,461 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $213,458.85. Following the completion of the transaction, the chief executive officer owned 161,578 shares of the company’s stock, valued at $7,731,507.30. The trade was a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,709 shares of company stock valued at $321,046 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Federated Hermes Trading Up 0.6%

Shares of Federated Hermes stock opened at $53.13 on Thursday. The stock has a market capitalization of $4.12 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.51 and a beta of 0.74. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.58 and a current ratio of 2.75. The stock’s 50-day simple moving average is $52.60 and its 200 day simple moving average is $51.63.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, January 29th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The business had revenue of $482.83 million for the quarter, compared to analysts’ expectations of $468.45 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, February 6th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, February 6th. Federated Hermes’s dividend payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FHI. Wall Street Zen cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Thursday, January 22nd. TD Cowen restated a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 target price (up previously from $54.00) on shares of Federated Hermes in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.00.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.