Squarepoint Ops LLC Trims Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Squarepoint Ops LLC decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 87.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,202 shares of the company’s stock after selling 118,171 shares during the quarter. Squarepoint Ops LLC’s holdings in Federated Hermes were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Federated Hermes by 102.7% during the 2nd quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock valued at $9,308,000 after purchasing an additional 143,363 shares during the period. Continental Advisors LLC increased its position in shares of Federated Hermes by 39.2% during the second quarter. Continental Advisors LLC now owns 184,967 shares of the company’s stock valued at $6,082,000 after buying an additional 52,057 shares during the period. Prospector Partners LLC increased its position in shares of Federated Hermes by 0.5% during the second quarter. Prospector Partners LLC now owns 241,836 shares of the company’s stock valued at $7,952,000 after buying an additional 1,290 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Federated Hermes by 36.7% in the second quarter. Pacer Advisors Inc. now owns 22,150 shares of the company’s stock worth $728,000 after buying an additional 5,942 shares in the last quarter. Finally, Kendall Capital Management boosted its position in shares of Federated Hermes by 18.8% in the second quarter. Kendall Capital Management now owns 58,230 shares of the company’s stock valued at $1,915,000 after acquiring an additional 9,220 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. UBS Group dropped their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Evercore ISI boosted their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $36.04 on Wednesday. The stock’s 50-day moving average is $34.60 and its 200 day moving average is $34.04. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 1.44 and a beta of 1.16. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $37.43. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. During the same period in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.44%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is currently 35.23%.

Federated Hermes Profile

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.