Hotchkis & Wiley Capital Management LLC Lowers Stake in Federated Hermes, Inc. (NYSE:FHI)

Hotchkis & Wiley Capital Management LLC decreased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 355,055 shares of the company’s stock after selling 13,100 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.43% of Federated Hermes worth $13,055,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Comerica Bank boosted its holdings in shares of Federated Hermes by 11.9% during the first quarter. Comerica Bank now owns 41,010 shares of the company’s stock worth $1,481,000 after purchasing an additional 4,346 shares during the last quarter. Mather Group LLC. acquired a new stake in Federated Hermes in the 2nd quarter worth about $47,000. CWM LLC grew its holdings in Federated Hermes by 985.7% in the 2nd 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 period. SG Americas Securities LLC increased its stake in shares of Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after acquiring an additional 19,530 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Federated Hermes by 4.0% in the second quarter. Wedge Capital Management L L P NC now owns 28,476 shares of the company’s stock worth $936,000 after acquiring an additional 1,083 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $42.45 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.23. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.19 and a beta of 1.15. The business has a 50-day moving average of $39.60 and a 200-day moving average of $35.67.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. Federated Hermes’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. On average, equities analysts anticipate that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group lifted their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Royal Bank of Canada lifted their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now directly owns 53,837 shares of the company’s stock, valued at $2,232,620.39. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock worth $1,185,871 in the last quarter. 3.70% of the stock is owned by corporate 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.