Gamco Investors INC. ET AL cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 10.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,571 shares of the company’s stock after selling 11,078 shares during the quarter. Gamco Investors INC. ET AL owned 0.12% of Federated Hermes worth $5,193,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FHI. Torren Management LLC acquired a new stake in Federated Hermes during the fourth quarter worth approximately $25,000. Root Financial Partners LLC increased its stake in Federated Hermes by 71.0% during the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after acquiring an additional 237 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after acquiring an additional 401 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after acquiring an additional 503 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Federated Hermes by 220.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after acquiring an additional 594 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on FHI shares. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen decreased their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a report on Thursday, July 2nd. Two equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.75.
Insider Activity at Federated Hermes
In related news, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the transaction, the chief executive officer owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.
Federated Hermes Trading Down 0.1%
Shares of FHI opened at $57.83 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. Federated Hermes, Inc. has a 52-week low of $46.66 and a 52-week high of $60.77. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.56 and a beta of 0.65. The business’s fifty day moving average is $57.18 and its 200-day moving average is $56.03.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. During the same period in the prior year, the company earned $1.25 EPS. Federated Hermes’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts anticipate that Federated Hermes, Inc. will post 5.24 EPS for the current fiscal year.
Federated Hermes Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, May 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is 29.46%.
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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