Palisade Asset Management LLC Trims Stock Holdings in Federated Hermes, Inc. $FHI

Palisade Asset Management LLC decreased its holdings in Federated Hermes, Inc. (NYSE:FHI) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,160 shares of the company’s stock after selling 9,630 shares during the period. Palisade Asset Management LLC’s holdings in Federated Hermes were worth $1,102,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FHI. Jones Financial Companies Lllp increased its stake in shares of Federated Hermes by 236.0% in the first quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after purchasing an additional 6,244 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Federated Hermes in the first quarter worth about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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. increased its stake in shares of 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. increased its stake in shares of 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. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $58.32 on Monday. The company has a 50 day moving average of $56.31 and a 200 day moving average of $54.77. The stock has a market cap of $4.43 billion, a P/E ratio of 11.30, a P/E/G ratio of 2.08 and a beta of 0.65. Federated Hermes, Inc. has a 12 month low of $41.71 and a 12 month high of $59.05. 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 (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared 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 of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is presently 29.46%.

Insider Buying and Selling

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the business’s 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 $4,060,718.20. The trade was a 5.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FHI shares. Evercore reiterated an “outperform” rating and issued a $59.00 target price on shares of Federated Hermes in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada reduced their price objective on shares of 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. Finally, TD Cowen reduced their price objective on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.