Federated Hermes, Inc. (NYSE:FHI) Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in Federated Hermes, Inc. (NYSE:FHI) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,822 shares of the company’s stock after selling 23,962 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Federated Hermes worth $9,259,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FHI. Los Angeles Capital Management LLC acquired a new position in shares of Federated Hermes in the 2nd quarter valued at about $206,000. Acadian Asset Management LLC increased its holdings in shares of Federated Hermes by 23.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after purchasing an additional 643 shares during the period. Headlands Technologies LLC increased its holdings in shares of Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after purchasing an additional 1,117 shares during the period. American Century Companies Inc. increased its holdings in shares of Federated Hermes by 112.4% in the 2nd quarter. American Century Companies Inc. now owns 56,333 shares of the company’s stock valued at $1,852,000 after purchasing an additional 29,814 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Federated Hermes in the 2nd quarter valued at about $120,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FHI shares. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group increased their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI increased their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.17.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is owned by company insiders.

Federated Hermes Stock Down 1.1 %

Shares of Federated Hermes stock opened at $37.90 on Tuesday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 12.19, a PEG ratio of 1.19 and a beta of 1.16. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $41.55 and a two-hundred day moving average price of $37.46. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. Federated Hermes’s dividend payout ratio is 39.87%.

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.