Y Intercept Hong Kong Ltd Purchases Shares of 12,489 Federated Hermes, Inc. $FHI

Y Intercept Hong Kong Ltd acquired a new stake in Federated Hermes, Inc. (NYSE:FHI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,489 shares of the company’s stock, valued at approximately $708,000.

Other hedge funds have also recently made changes to their positions in the company. Burney Co. raised its position in shares of Federated Hermes by 61.8% during the fourth quarter. Burney Co. now owns 218,661 shares of the company’s stock valued at $11,386,000 after buying an additional 83,529 shares during the last quarter. LSV Asset Management boosted its position in shares of Federated Hermes by 20.4% during the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock worth $150,497,000 after acquiring an additional 489,275 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Federated Hermes by 36.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 116,278 shares of the company’s stock valued at $6,055,000 after acquiring an additional 31,240 shares in the last quarter. Vestcor Inc increased its holdings in Federated Hermes by 32.6% in the 4th quarter. Vestcor Inc now owns 432,900 shares of the company’s stock valued at $22,541,000 after acquiring an additional 106,377 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in Federated Hermes by 19.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 177,533 shares of the company’s stock valued at $9,244,000 after acquiring an additional 28,854 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

FHI has been the subject of several research reports. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their target price on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Evercore reissued an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a research note on Monday, June 8th. TD Cowen cut their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.75.

Federated Hermes Trading Down 2.4%

FHI opened at $58.12 on Tuesday. The firm has a market cap of $4.41 billion, a P/E ratio of 11.26, a P/E/G ratio of 2.11 and a beta of 0.65. Federated Hermes, Inc. has a 12 month low of $45.30 and a 12 month high of $60.77. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $56.65 and a 200 day moving average of $55.71.

Federated Hermes (NYSE:FHI) last issued 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. The company had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that Federated Hermes, Inc. will post 5.14 EPS for the current year.

Federated Hermes Increases Dividend

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

Insider Activity at Federated Hermes

In related news, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction on Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at approximately $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 Profile

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.