Cambria Investment Management L.P. Reduces Position in Federated Hermes, Inc. $FHI

Cambria Investment Management L.P. decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 254,835 shares of the company’s stock after selling 18,050 shares during the quarter. Federated Hermes accounts for about 0.8% of Cambria Investment Management L.P.’s investment portfolio, making the stock its 13th biggest position. Cambria Investment Management L.P.’s holdings in Federated Hermes were worth $13,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MAI Capital Management lifted its stake in shares of Federated Hermes by 86.7% during the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after acquiring an additional 221 shares during the last quarter. Farther Finance Advisors LLC grew its position in Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after acquiring an additional 430 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Federated Hermes in the second quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Federated Hermes in the second quarter worth $56,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Federated Hermes by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after purchasing an additional 679 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

Shares of FHI stock opened at $56.90 on Wednesday. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $57.82. The company has a current ratio of 2.75, a quick ratio of 2.30 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $54.54 and a two-hundred day simple moving average of $52.47. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.98 and a beta of 0.73.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. The firm had revenue of $482.83 million for the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 earnings per share. On average, analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 6th. Federated Hermes’s dividend payout ratio is presently 26.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FHI shares. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday. Argus raised shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Finally, Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Federated Hermes has an average rating of “Hold” and a consensus price target of $55.00.

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.