Federated Hermes, Inc. (NYSE:FHI) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 356,865 shares of the company’s stock after acquiring an additional 5,636 shares during the period. Principal Financial Group Inc. owned about 0.41% of Federated Hermes worth $12,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after buying an additional 307 shares in the last quarter. Signaturefd LLC raised its position in Federated Hermes by 69.9% in the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after purchasing an additional 343 shares during the last quarter. Arizona State Retirement System raised its position in Federated Hermes by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 24,212 shares of the company’s stock valued at $820,000 after purchasing an additional 390 shares during the last quarter. Blue Trust Inc. raised its position in Federated Hermes by 23.0% in the 4th quarter. Blue Trust Inc. now owns 2,708 shares of the company’s stock valued at $92,000 after purchasing an additional 507 shares during the last quarter. Finally, DGS Capital Management LLC raised its position in Federated Hermes by 6.7% in the 4th quarter. DGS Capital Management LLC now owns 9,258 shares of the company’s stock valued at $313,000 after purchasing an additional 584 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FHI. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Evercore ISI reduced their price target on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Finally, UBS Group upped their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.29.

Insider Activity

In other 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 value of $300,117.30. Following the completion of the transaction, the chief executive officer now owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $300,117.30. Following the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard A. Novak sold 908 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares in the company, valued at $1,769,882.76. The disclosure for this sale can be found here. Insiders sold 23,030 shares of company stock worth $833,153 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Up 0.0 %

Shares of Federated Hermes stock opened at $32.54 on Friday. The firm has a fifty day moving average of $34.47 and a two-hundred day moving average of $34.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. The company has a market cap of $2.74 billion, a P/E ratio of 9.24, a PEG ratio of 1.09 and a beta of 1.14. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $38.93.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. On average, analysts forecast that Federated Hermes, Inc. will post 3.6 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently declared a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a $1.31 dividend. This represents a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 7th. This is an increase from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

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.