Geode Capital Management LLC Increases Position in Federated Hermes, Inc. $FHI

Geode Capital Management LLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,409,852 shares of the company’s stock after acquiring an additional 73,984 shares during the quarter. Geode Capital Management LLC’s holdings in Federated Hermes were worth $73,425,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FHI. Jones Financial Companies Lllp increased its position in shares of Federated Hermes by 236.0% during the first quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after acquiring an additional 6,244 shares during the last quarter. United Services Automobile Association acquired a new position in Federated Hermes in the first quarter worth about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Federated Hermes by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock worth $9,769,000 after purchasing an additional 24,960 shares in the last quarter. American Century Companies Inc. grew its stake in Federated Hermes by 1.9% in the second quarter. American Century Companies Inc. now owns 33,246 shares of the company’s stock worth $1,474,000 after purchasing an additional 614 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Federated Hermes by 4.9% in the second quarter. Prudential Financial Inc. now owns 11,744 shares of the company’s stock worth $497,000 after purchasing an additional 547 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

Shares of FHI stock opened at $56.92 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $56.23 and a two-hundred day moving average of $54.49. Federated Hermes, Inc. has a 52 week low of $41.71 and a 52 week high of $59.05. The company has a market cap of $4.32 billion, a P/E ratio of 11.03, a PEG ratio of 2.04 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $475.22 million. During the same period in the previous year, the firm posted $1.25 earnings per share. Federated Hermes’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, analysts anticipate that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date was Friday, May 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 2.7%. Federated Hermes’s payout ratio is presently 29.46%.

Wall Street Analysts Forecast Growth

FHI has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. TD Cowen decreased their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Evercore reiterated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.00.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of Federated Hermes stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $56.23, for a total value of $4,070,602.16. Following the completion of the transaction, the vice president directly owned 263,987 shares in the company, valued at $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 SEC, which is available at this link. Also, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction that occurred 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 transaction, the vice president owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

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.