Federated Hermes, Inc. $FHI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 16.4% during the third quarter, Holdings Channel.com reports. The fund owned 218,741 shares of the company’s stock after selling 43,052 shares during the period. JPMorgan Chase & Co.’s holdings in Federated Hermes were worth $11,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Federated Hermes by 20.1% in the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after purchasing an additional 498,202 shares during the period. LSV Asset Management raised its stake in shares of Federated Hermes by 22.1% in the 3rd quarter. LSV Asset Management now owns 2,401,001 shares of the company’s stock worth $124,684,000 after buying an additional 434,859 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Federated Hermes by 19.9% in the third quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company’s stock valued at $52,357,000 after buying an additional 167,225 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Federated Hermes by 21.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 852,594 shares of the company’s stock valued at $37,787,000 after buying an additional 152,134 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Federated Hermes by 405.3% during the second quarter. Qube Research & Technologies Ltd now owns 607,504 shares of the company’s stock worth $26,925,000 after acquiring an additional 487,281 shares during the period. Institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

FHI has been the subject of several research reports. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. Finally, Zacks Research lowered 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 data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Federated Hermes Stock Down 0.4%

FHI stock opened at $56.95 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.58. The firm has a market capitalization of $4.42 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.55 and a beta of 0.73. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $57.33. The company’s 50 day simple moving average is $54.03 and its 200-day simple moving average is $52.31.

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

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.4%. 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.