Palisade Asset Management LLC Sells 9,630 Shares of Federated Hermes, Inc. $FHI

Palisade Asset Management LLC lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,160 shares of the company’s stock after selling 9,630 shares during the period. Palisade Asset Management LLC’s holdings in Federated Hermes were worth $1,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. raised its holdings in shares of Federated Hermes by 2,427.2% in the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after purchasing an additional 506,500 shares during the last quarter. Burney Co. raised its holdings in shares of Federated Hermes by 61.8% in the fourth quarter. Burney Co. now owns 218,661 shares of the company’s stock valued at $11,386,000 after purchasing an additional 83,529 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Federated Hermes by 36.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 116,278 shares of the company’s stock valued at $6,055,000 after purchasing an additional 31,240 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Federated Hermes in the third quarter valued at about $6,279,000. Finally, LSV Asset Management raised its holdings in shares of Federated Hermes by 20.4% in the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after purchasing an additional 489,275 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FHI. Evercore reiterated an “outperform” rating and issued 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 report on Saturday, May 2nd. Royal Bank Of Canada lowered their target price on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Finally, TD Cowen lowered their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.00.

Federated Hermes Stock Performance

NYSE FHI opened at $58.32 on Monday. Federated Hermes, Inc. has a 52-week low of $41.71 and a 52-week high of $59.05. The company has a 50-day simple moving average of $56.31 and a 200 day simple moving average of $54.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. The company has a market capitalization of $4.43 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts predict that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Federated Hermes’s dividend payout ratio is 29.46%.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the sale, the vice president owned 74,921 shares of the company’s stock, valued at $4,060,718.20. This trade represents a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

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.