D. E. Shaw & Co. Inc. Reduces Stake in Federated Hermes, Inc. (NYSE:FHI)

D. E. Shaw & Co. Inc. reduced its position in Federated Hermes, Inc. (NYSE:FHI) by 59.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 137,527 shares of the company’s stock after selling 197,999 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Federated Hermes were worth $5,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new position in Federated Hermes in the 4th quarter worth $37,000. R Squared Ltd purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $43,000. Sound Income Strategies LLC purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $53,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $73,000. Finally, Jones Financial Companies Lllp grew its position in Federated Hermes by 112.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock worth $109,000 after acquiring an additional 1,400 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Price Performance

Shares of FHI opened at $43.32 on Friday. The firm has a market capitalization of $3.43 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company’s fifty day moving average price is $39.66 and its 200-day moving average price is $40.03.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. On average, equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.14%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, May 8th. Federated Hermes’s dividend payout ratio is presently 38.31%.

Analyst Ratings Changes

Several research firms recently commented on FHI. Royal Bank of Canada lifted their price target on Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. TD Cowen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, Evercore ISI boosted their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.33.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.