Wedge Capital Management L L P NC Purchases 2,432 Shares of Federated Hermes, Inc. (NYSE:FHI)

Wedge Capital Management L L P NC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 11.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,321 shares of the company’s stock after buying an additional 2,432 shares during the period. Wedge Capital Management L L P NC’s holdings in Federated Hermes were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Federated Hermes by 87.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after acquiring an additional 533,083 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Federated Hermes by 32.2% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 122,796 shares of the company’s stock worth $4,158,000 after buying an additional 29,930 shares in the last quarter. Graham Capital Management L.P. raised its holdings in shares of Federated Hermes by 54.4% in the 3rd quarter. Graham Capital Management L.P. now owns 99,425 shares of the company’s stock worth $3,368,000 after buying an additional 35,032 shares in the last quarter. FMR LLC raised its holdings in shares of Federated Hermes by 12.6% in the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after buying an additional 562,232 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Federated Hermes in the 3rd quarter worth approximately $1,016,000. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FHI shares. Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. TD Cowen started coverage on Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price for the company. UBS Group lifted their target price on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.50.

Federated Hermes Stock Performance

FHI opened at $34.15 on Friday. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $42.57. The firm has a market capitalization of $2.88 billion, a PE ratio of 10.01, a PEG ratio of 0.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The business’s 50-day simple moving average is $35.64 and its 200 day simple moving average is $34.11.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.12. The firm had revenue of $391.50 million for 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 for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Transactions at Federated Hermes

In other news, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul A. Uhlman sold 13,820 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 276,084 shares in the company, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,435 shares of company stock worth $4,092,831. Company insiders own 3.70% of the company’s stock.

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.