Principal Financial Group Inc. Buys 822 Shares of Federated Hermes, Inc. (NYSE:FHI)

Principal Financial Group Inc. increased its stake in Federated Hermes, Inc. (NYSE:FHI) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,445 shares of the company’s stock after purchasing an additional 822 shares during the quarter. Principal Financial Group Inc.’s holdings in Federated Hermes were worth $7,153,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Meritage Portfolio Management raised its holdings in Federated Hermes by 100.7% in the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after purchasing an additional 11,523 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Federated Hermes in the 1st quarter worth $2,584,000. Ritholtz Wealth Management bought a new position in Federated Hermes in the 1st quarter worth $1,283,000. New Age Alpha Advisors LLC purchased a new position in Federated Hermes during the fourth quarter valued at approximately $461,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Federated Hermes during the fourth quarter valued at approximately $585,000. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Down 2.8%

Shares of FHI stock opened at $45.31 on Wednesday. The firm has a market capitalization of $3.58 billion, a PE ratio of 12.76, a PEG ratio of 0.86 and a beta of 0.78. The stock has a fifty day simple moving average of $43.31 and a two-hundred day simple moving average of $40.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. Federated Hermes, Inc. has a 52-week low of $31.94 and a 52-week high of $46.84.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. On average, analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. Federated Hermes’s dividend payout ratio (DPR) is presently 38.31%.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president owned 316,930 shares in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FHI has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, July 9th. Evercore ISI increased their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Wall Street Zen upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Royal Bank Of Canada increased their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 10th. Finally, TD Cowen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.50.

Federated Hermes 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.