Pacer Advisors Inc. Takes $588,000 Position in Federated Hermes, Inc. (NYSE:FHI)

Posted by on May 4th, 2023

Pacer Advisors Inc. acquired a new stake in Federated Hermes, Inc. (NYSE:FHI – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,204 shares of the company’s stock, valued at approximately $588,000.

Several other institutional investors and hedge funds have also made changes to their positions in FHI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Federated Hermes by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock valued at $1,209,000 after acquiring an additional 3,384 shares in the last quarter. BlackRock Inc. lifted its position in shares of Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after acquiring an additional 466,504 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Federated Hermes by 3.0% in the first quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock valued at $1,755,000 after acquiring an additional 1,490 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Federated Hermes by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock valued at $76,638,000 after purchasing an additional 40,797 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Federated Hermes by 313.0% in the first quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock valued at $1,671,000 after purchasing an additional 37,140 shares during the last quarter. 78.82% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Trading Down 1.5 %

NYSE:FHI opened at $40.41 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $40.61 and its two-hundred day moving average is $38.24. Federated Hermes, Inc. has a 52 week low of $28.42 and a 52 week high of $45.55. The company has a market cap of $3.61 billion, a PE ratio of 14.28 and a beta of 1.06.

Federated Hermes (NYSE:FHI – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $382.20 million for the quarter, compared to the consensus estimate of $390.85 million. Federated Hermes had a return on equity of 28.61% and a net margin of 16.85%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. On average, analysts predict that Federated Hermes, Inc. will post 3.23 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 8th will be given a $0.28 dividend. This is a boost from Federated Hermes’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, May 5th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.58%.

Insider Activity at Federated Hermes

In related news, insider Richard A. Novak sold 985 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $39.39, for a total value of $38,799.15. Following the sale, the insider now directly owns 46,854 shares in the company, valued at approximately $1,845,579.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Richard A. Novak sold 985 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $39.39, for a total value of $38,799.15. Following the sale, the insider now owns 46,854 shares of the company’s stock, valued at approximately $1,845,579.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saker Anwar Nusseibeh sold 9,933 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $39.12, for a total value of $388,578.96. Following the sale, the chief executive officer now directly owns 256,569 shares in the company, valued at $10,036,979.28. The disclosure for this sale can be found here. Insiders have sold a total of 11,417 shares of company stock worth $447,061 in the last three months. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on FHI shares. StockNews.com started coverage on Federated Hermes in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Evercore ISI upped their target price on Federated Hermes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, April 13th. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $47.00 in a research note on Tuesday, April 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Federated Hermes from $44.00 to $45.00 in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Federated Hermes Profile

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Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.

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Institutional Ownership by Quarter for Federated Hermes (NYSE:FHI)

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