Hsbc Holdings PLC lifted its position in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 51.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,245 shares of the company’s stock after purchasing an additional 11,920 shares during the period. Hsbc Holdings PLC’s holdings in Federated Hermes were worth $2,008,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Torren Management LLC bought a new position in Federated Hermes during the 4th quarter valued at approximately $25,000. Root Financial Partners LLC grew its position in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after buying an additional 237 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock worth $38,000 after buying an additional 401 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Federated Hermes by 145.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after buying an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Federated Hermes by 220.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after buying an additional 594 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Insider Buying and Selling
In related news, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.20% of the company’s stock.
Federated Hermes Stock Performance
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. Federated Hermes’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. Sell-side analysts anticipate that Federated Hermes, Inc. will post 5.24 EPS for the current fiscal year.
Federated Hermes Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes’s dividend payout ratio is currently 29.46%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Evercore restated an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a report on Monday, June 8th. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen reduced their price objective on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.75.
Check Out Our Latest Stock Analysis on Federated Hermes
About Federated Hermes
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.
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