QRG Capital Management Inc. Purchases New Holdings in Federated Hermes, Inc. $FHI

QRG Capital Management Inc. bought a new position in Federated Hermes, Inc. (NYSE:FHI) in the 1st quarter, HoldingsChannel reports. The fund bought 42,683 shares of the company’s stock, valued at approximately $2,421,000.

Other hedge funds have also recently bought and sold shares of the company. Torren Management LLC purchased a new stake in shares of Federated Hermes in the fourth quarter worth approximately $25,000. Root Financial Partners LLC lifted its position in Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after buying an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after buying an additional 401 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock worth $44,000 after acquiring an additional 503 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after purchasing an additional 594 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on FHI shares. JPMorgan Chase & Co. lowered their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. TD Cowen cut their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research note on Monday, June 8th. Royal Bank Of Canada raised their target price on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.75.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares in the company, valued at $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. This represents a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by corporate insiders.

Federated Hermes Price Performance

Shares of FHI stock traded up $0.41 on Tuesday, reaching $58.31. The company’s stock had a trading volume of 211,843 shares, compared to its average volume of 744,263. The company has a market capitalization of $4.43 billion, a P/E ratio of 11.28, a PEG ratio of 2.02 and a beta of 0.65. Federated Hermes, Inc. has a 12-month low of $45.03 and a 12-month high of $60.17. The stock’s 50 day simple moving average is $56.46 and its 200-day simple moving average is $55.49. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that Federated Hermes, Inc. will post 5.12 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is presently 29.46%.

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.