Federated Hermes, Inc. (NYSE:FHI) Stock Holdings Boosted by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 84.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,054 shares of the company’s stock after acquiring an additional 20,148 shares during the quarter. Legato Capital Management LLC owned 0.05% of Federated Hermes worth $1,811,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Federated Hermes in the fourth quarter worth about $292,000. Entropy Technologies LP increased its stake in Federated Hermes by 39.6% during the fourth quarter. Entropy Technologies LP now owns 8,139 shares of the company’s stock valued at $335,000 after acquiring an additional 2,307 shares during the period. Meritage Portfolio Management increased its stake in Federated Hermes by 12.4% during the fourth quarter. Meritage Portfolio Management now owns 11,441 shares of the company’s stock valued at $470,000 after acquiring an additional 1,261 shares during the period. SYM FINANCIAL Corp bought a new stake in shares of Federated Hermes in the 4th quarter valued at approximately $207,000. Finally, Waldron Private Wealth LLC boosted its holdings in shares of Federated Hermes by 105.9% in the 4th quarter. Waldron Private Wealth LLC now owns 14,637 shares of the company’s stock worth $602,000 after acquiring an additional 7,528 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Up 0.1 %

NYSE:FHI opened at $38.30 on Wednesday. The stock’s fifty day moving average price is $40.18 and its two-hundred day moving average price is $38.19. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. 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 company has a market cap of $3.13 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.02 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating 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%. On average, analysts anticipate that Federated Hermes, Inc. will post 4.09 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 38.87%.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the sale, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. This represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,674 shares of company stock valued at $717,283 in the last 90 days. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FHI has been the topic of several recent analyst reports. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on 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 boosted their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.00.

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.