AlphaQuest LLC Cuts Position in Federated Hermes, Inc. $FHI

AlphaQuest LLC cut its stake in Federated Hermes, Inc. (NYSE:FHI) by 20.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,468 shares of the company’s stock after selling 13,905 shares during the period. AlphaQuest LLC’s holdings in Federated Hermes were worth $2,732,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its stake in Federated Hermes by 2,427.2% in the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after purchasing an additional 506,500 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Federated Hermes by 3,592.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company’s stock worth $2,410,000 after purchasing an additional 45,155 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Federated Hermes by 19.9% in the third quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company’s stock worth $52,357,000 after purchasing an additional 167,225 shares during the last quarter. LSV Asset Management lifted its stake in Federated Hermes by 22.1% in the third quarter. LSV Asset Management now owns 2,401,001 shares of the company’s stock worth $124,684,000 after purchasing an additional 434,859 shares during the last quarter. Finally, Burney Co. lifted its stake in Federated Hermes by 61.8% in the fourth quarter. Burney Co. now owns 218,661 shares of the company’s stock worth $11,386,000 after purchasing an additional 83,529 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Price Performance

Shares of FHI opened at $55.90 on Wednesday. The stock has a market cap of $4.24 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. Federated Hermes, Inc. has a fifty-two week low of $41.55 and a fifty-two week high of $59.05. The firm’s 50-day simple moving average is $56.24 and its two-hundred day simple moving average is $54.05.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share 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 for the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. Analysts anticipate that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. Federated Hermes’s dividend payout ratio is currently 29.46%.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 72,392 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president owned 263,987 shares in the company, valued at $14,843,989.01. This represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the transaction, the vice president owned 74,921 shares in the company, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FHI shares. Argus raised shares of Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Royal Bank Of Canada lowered 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. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, TD Cowen lowered 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 equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.00.

About Federated Hermes

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.