Abacus Planning Group Inc. Purchases New Holdings in Federated Hermes, Inc. (NYSE:FHI)

Abacus Planning Group Inc. bought a new position in Federated Hermes, Inc. (NYSE:FHI) in the 1st quarter, HoldingsChannel.com reports. The firm bought 5,108 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Federated Hermes during the 4th quarter worth about $37,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Federated Hermes in the 4th quarter valued at $73,000. UMB Bank n.a. grew its holdings in shares of Federated Hermes by 55.1% in the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company’s stock worth $84,000 after purchasing an additional 734 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Federated Hermes in the 4th quarter worth about $90,000. Finally, Jones Financial Companies Lllp increased its position in shares of Federated Hermes by 112.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock worth $109,000 after purchasing an additional 1,400 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president now owns 316,930 shares of the company’s stock, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.80% of the stock is owned by company insiders.

Federated Hermes Trading Up 0.8%

Shares of NYSE FHI opened at $42.26 on Monday. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a 50-day moving average of $40.38 and a two-hundred day moving average of $40.12. The company has a market cap of $3.34 billion, a PE ratio of 13.25, a P/E/G ratio of 1.00 and a beta of 0.78. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Federated Hermes’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, equities analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a dividend yield of 3.22%. Federated Hermes’s payout ratio is currently 38.31%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FHI. Royal Bank of Canada boosted their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Evercore ISI lifted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Finally, TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.33.

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.