Federated Hermes, Inc. $FHI Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,409,852 shares of the company’s stock after purchasing an additional 73,984 shares during the quarter. Geode Capital Management LLC owned about 1.82% of Federated Hermes worth $73,425,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Torren Management LLC acquired a new stake in shares of Federated Hermes during the fourth quarter worth $25,000. MAI Capital Management raised its position in shares of Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after buying an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Federated Hermes in the 2nd quarter worth $56,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Federated Hermes in the 3rd quarter worth $75,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Activity

In other news, VP Paul A. Uhlman sold 72,392 shares of Federated Hermes stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president directly owned 263,987 shares of the company’s stock, valued at approximately $14,843,989.01. The trade was a 21.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the sale, the vice president directly owned 74,921 shares in the company, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Federated Hermes in a research report on Monday. JPMorgan Chase & Co. cut 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. TD Cowen cut their target price on 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 reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada cut their target price on Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Federated Hermes Trading Down 0.2%

NYSE:FHI opened at $56.92 on Tuesday. The business’s 50-day moving average is $56.23 and its two-hundred day moving average is $54.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. Federated Hermes, Inc. has a 12 month low of $41.71 and a 12 month high of $59.05. The firm has a market capitalization of $4.32 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 2.04 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last released 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. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same period last year, the company posted $1.25 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Research analysts predict that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.7%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. 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.