Wedge Capital Management L L P NC Raises Position in Federated Hermes, Inc. (NYSE:FHI)

Wedge Capital Management L L P NC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,321 shares of the company’s stock after buying an additional 2,432 shares during the period. Wedge Capital Management L L P NC’s holdings in Federated Hermes were worth $790,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FHI. FMR LLC raised its holdings in Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after buying an additional 562,232 shares during the last quarter. Wellington Management Group LLP raised its holdings in Federated Hermes by 87.9% in the third quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after buying an additional 533,083 shares during the last quarter. AQR Capital Management LLC raised its holdings in Federated Hermes by 183.5% in the third quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after buying an additional 518,715 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Federated Hermes by 228.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 478,094 shares of the company’s stock worth $16,193,000 after acquiring an additional 332,528 shares during the period. Finally, Algebris UK Ltd bought a new stake in shares of Federated Hermes in the third quarter worth approximately $9,183,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FHI shares. TD Cowen started coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target for the company. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Federated Hermes Stock Down 2.4 %

Shares of Federated Hermes stock opened at $34.15 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $42.57. The firm’s 50-day moving average is $35.64 and its two-hundred day moving average is $34.11. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.82 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last issued its earnings results on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. The company had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. As a group, research analysts expect that Federated Hermes, Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares of the company’s stock, valued at approximately $1,145,557.35. 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 8,302 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is currently owned by insiders.

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.