Cornercap Investment Counsel Inc. Boosts Stake in Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. raised its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 134.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,224 shares of the company’s stock after acquiring an additional 16,181 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Federated Hermes were worth $956,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in shares of Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in shares of Federated Hermes by 3.7% during the fourth quarter. Eqis Capital Management Inc. now owns 8,920 shares of the company’s stock worth $324,000 after purchasing an additional 321 shares in the last quarter. Whitener Capital Management Inc. lifted its stake in shares of Federated Hermes by 3.6% during the third quarter. Whitener Capital Management Inc. now owns 9,450 shares of the company’s stock worth $320,000 after purchasing an additional 330 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Federated Hermes by 1.6% during the third quarter. Arizona State Retirement System now owns 24,212 shares of the company’s stock worth $820,000 after purchasing an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen assumed coverage on Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Royal Bank of Canada boosted their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. UBS Group boosted their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, 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 accessible through the SEC website. In other news, VP Paul A. Uhlman sold 13,820 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the sale, the vice president now owns 276,084 shares in the company, valued at $9,994,240.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock valued at $4,092,831 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Federated Hermes Trading Down 2.0 %

Shares of NYSE FHI opened at $35.03 on Tuesday. The stock’s 50 day moving average price is $35.68 and its two-hundred day moving average price is $34.03. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $45.55. The stock has a market capitalization of $2.96 billion, a P/E ratio of 10.27, a PEG ratio of 0.85 and a beta of 1.12. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last posted its earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The company had revenue of $391.50 million during the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, analysts anticipate that Federated Hermes, Inc. will post 3.73 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is 32.84%.

About Federated Hermes

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.