BI Asset Management Fondsmaeglerselskab A S Raises Stock Holdings in Federated Hermes, Inc. $FHI

BI Asset Management Fondsmaeglerselskab A S grew its position in Federated Hermes, Inc. (NYSE:FHI) by 255.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 144,671 shares of the company’s stock after acquiring an additional 104,017 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Federated Hermes were worth $8,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Diversified Trust Co increased its holdings in shares of Federated Hermes by 18.1% in the 1st quarter. Diversified Trust Co now owns 11,144 shares of the company’s stock valued at $632,000 after acquiring an additional 1,704 shares during the period. Baron Wealth Management LLC acquired a new stake in Federated Hermes during the 1st quarter worth $249,000. Rockefeller Capital Management L.P. boosted its stake in Federated Hermes by 24.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after purchasing an additional 194 shares during the period. Corient Private Wealth LLC grew its position in Federated Hermes by 16.7% during the 4th quarter. Corient Private Wealth LLC now owns 95,647 shares of the company’s stock worth $4,980,000 after purchasing an additional 13,686 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Federated Hermes by 220.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after purchasing an additional 594 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FHI has been the subject of a number of research reports. Royal Bank Of Canada reduced their target price on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Evercore restated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a research report on Monday, June 8th. TD Cowen reduced their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective 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. Two 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 stock presently has an average rating of “Hold” and an average price target of $55.00.

Federated Hermes Stock Up 0.2%

FHI opened at $59.20 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. Federated Hermes, Inc. has a 12 month low of $41.96 and a 12 month high of $59.83. The stock has a market capitalization of $4.49 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.11 and a beta of 0.65. The business has a 50 day simple moving average of $56.46 and a 200-day simple moving average of $55.08.

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 return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. Federated Hermes’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $0.38 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s payout ratio is 29.46%.

Insider Transactions at Federated Hermes

In related news, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction dated 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 owned 74,921 shares in the company, valued at $4,060,718.20. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the sale, the chief executive officer directly owned 151,276 shares in the company, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. Company 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.