Gabelli Funds LLC Cuts Stock Holdings in Federated Hermes, Inc. $FHI

Gabelli Funds LLC decreased its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,569 shares of the company’s stock after selling 9,824 shares during the period. Gabelli Funds LLC’s holdings in Federated Hermes were worth $4,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management boosted its holdings in Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after purchasing an additional 221 shares during the last quarter. Torren Management LLC purchased a new stake in Federated Hermes in the fourth quarter worth approximately $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Federated Hermes in the second quarter worth approximately $56,000. EverSource Wealth Advisors LLC boosted its holdings in Federated Hermes by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after purchasing an additional 679 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Federated Hermes in the third quarter worth approximately $75,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Up 0.1%

FHI opened at $53.80 on Friday. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a 1-year low of $41.55 and a 1-year high of $59.05. The company has a market capitalization of $4.08 billion, a PE ratio of 10.43, a PEG ratio of 2.11 and a beta of 0.67. The firm’s 50 day simple moving average is $56.33 and its two-hundred day simple moving average is $53.93.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $475.22 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts forecast that Federated Hermes, Inc. will post 5.08 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.8%. 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 currently 29.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FHI. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen dropped their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Argus upgraded shares of Federated Hermes to a “hold” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. dropped their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus target price of $54.00.

Insiders Place Their Bets

In other news, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value 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 $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 72,392 shares of the stock in a transaction on 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 completion of the sale, the vice president directly owned 263,987 shares of the company’s stock, valued at approximately $14,843,989.01. This trade represents a 21.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.