Vanguard Group Inc. Sells 32,353 Shares of Federated Hermes, Inc. $FHI

Vanguard Group Inc. reduced its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,475,049 shares of the company’s stock after selling 32,353 shares during the quarter. Vanguard Group Inc. owned about 10.93% of Federated Hermes worth $440,109,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Federated Hermes by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock valued at $131,000 after purchasing an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Federated Hermes by 0.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,934 shares of the company’s stock worth $3,580,000 after acquiring an additional 272 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Federated Hermes by 0.3% in the 3rd quarter. Cibc World Market Inc. now owns 115,930 shares of the company’s stock worth $6,020,000 after acquiring an additional 331 shares during the last quarter. Diversified Trust Co boosted its stake in Federated Hermes by 4.5% during the 3rd quarter. Diversified Trust Co now owns 9,444 shares of the company’s stock valued at $490,000 after purchasing an additional 408 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Federated Hermes by 97.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FHI shares. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a research report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $56.38 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.58 and a current ratio of 2.75. The stock has a market cap of $4.37 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.54 and a beta of 0.74. Federated Hermes, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $56.68. The stock has a fifty day moving average of $53.65 and a 200-day moving average of $52.15.

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

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, February 6th. Federated Hermes’s payout ratio is currently 26.46%.

Federated Hermes Company 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.