Paralel Advisors LLC Takes Position in Federated Hermes, Inc. (NYSE:FHI)

Paralel Advisors LLC acquired a new position in Federated Hermes, Inc. (NYSE:FHI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 63,196 shares of the company’s stock, valued at approximately $2,078,000.

A number of other hedge funds also recently bought and sold shares of FHI. Headlands Technologies LLC grew its stake in shares of Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares during the period. Mather Group LLC. bought a new stake in Federated Hermes during the second quarter valued at approximately $47,000. CWM LLC increased its holdings in Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after buying an additional 1,311 shares during the last quarter. UMB Bank n.a. raised its position in Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after acquiring an additional 296 shares during the period. Finally, Neo Ivy Capital Management boosted its stake in shares of Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after acquiring an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now directly owns 298,578 shares in the company, valued at approximately $9,384,306.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,896 shares of company stock worth $2,644,911. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

NYSE FHI traded down $0.86 during trading hours on Friday, reaching $33.65. The company’s stock had a trading volume of 481,732 shares, compared to its average volume of 745,387. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $37.10. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 1.34 and a beta of 1.16. The firm’s 50-day moving average price is $33.75 and its 200-day moving average price is $34.01.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. Federated Hermes’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, equities research analysts predict that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.68%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FHI shares. Evercore ISI reduced their price objective on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen reduced their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, UBS Group lowered their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and an average price target of $37.67.

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.