Sei Investments Co. Boosts Holdings in Federated Hermes, Inc. (NYSE:FHI)

Sei Investments Co. raised its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 776.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 112,018 shares of the company’s stock after acquiring an additional 99,240 shares during the period. Sei Investments Co.’s holdings in Federated Hermes were worth $4,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Federated Hermes during the fourth quarter valued at $292,000. Inspire Investing LLC purchased a new position in Federated Hermes in the fourth quarter worth about $829,000. Charles Schwab Investment Management Inc. grew its position in Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after acquiring an additional 145,878 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Federated Hermes by 78.5% during the fourth quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock worth $916,000 after acquiring an additional 10,135 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new stake in Federated Hermes during the fourth quarter valued at approximately $727,000. Institutional investors own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.80% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI stock opened at $41.16 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The firm has a market cap of $3.35 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.00 and a beta of 1.10. The firm’s 50 day moving average price is $39.12 and its 200-day moving average price is $39.52. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, February 7th. Federated Hermes’s payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Evercore ISI set a $44.00 price objective on Federated Hermes in a research report on Monday, February 3rd. UBS Group lifted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Company 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.