Cornercap Investment Counsel Inc. Has $1.08 Million Position in Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. lifted its position in Federated Hermes, Inc. (NYSE:FHI) by 15.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,819 shares of the company’s stock after acquiring an additional 4,514 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Federated Hermes were worth $1,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FHI. Wellington Management Group LLP raised its holdings in Federated Hermes by 59.1% in the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after purchasing an additional 673,496 shares during the period. Norges Bank acquired a new stake in Federated Hermes during the 4th quarter worth $12,474,000. LSV Asset Management bought a new position in Federated Hermes during the second quarter worth about $11,913,000. Goldman Sachs Group Inc. grew its stake in Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after acquiring an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares during the period. Institutional investors own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 80,896 shares of company stock worth $2,644,911 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

NYSE FHI opened at $34.29 on Friday. The firm’s 50 day moving average is $33.84 and its 200-day moving average is $33.99. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.89 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. Federated Hermes, Inc. has a 12-month low of $30.23 and a 12-month high of $37.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. During the same quarter last year, the company earned $0.81 EPS. Federated Hermes’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts anticipate that Federated Hermes, Inc. will post 3.62 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.31 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.62%. Federated Hermes’s payout ratio is 35.23%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FHI. TD Cowen cut their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. UBS Group cut their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI lowered their price objective on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.67.

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.