Short Interest in Federated Hermes, Inc. (NYSE:FHI) Declines By 20.9%
by Scott Moore · The Cerbat GemFederated Hermes, Inc. (NYSE:FHI – Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totaling 2,747,264 shares, a decline of 20.9% from the March 15th total of 3,473,140 shares. Based on an average trading volume of 850,122 shares, the days-to-cover ratio is currently 3.2 days. Currently, 3.8% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. TD Cowen reiterated a “hold” rating on shares of Federated Hermes in a report on Thursday, April 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $55.00 price target (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered Federated Hermes from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $55.00 to $56.00 in a report on Thursday. Wall Street Zen upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Argus upgraded Federated Hermes to a “hold” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.
View Our Latest Stock Report on FHI
Insiders Place Their Bets
In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of Federated Hermes stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the transaction, the vice president owned 263,987 shares of the company’s stock, valued at $14,843,989.01. The trade was a 21.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Federated Hermes
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burney Co. lifted its holdings in Federated Hermes by 11.8% in the 3rd quarter. Burney Co. now owns 135,132 shares of the company’s stock worth $7,017,000 after purchasing an additional 14,253 shares during the last quarter. Seizert Capital Partners LLC lifted its holdings in shares of Federated Hermes by 47.2% during the third quarter. Seizert Capital Partners LLC now owns 82,524 shares of the company’s stock worth $4,285,000 after buying an additional 26,459 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Federated Hermes by 2,427.2% during the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after buying an additional 506,500 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Federated Hermes by 3,592.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company’s stock worth $2,410,000 after buying an additional 45,155 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Federated Hermes during the third quarter worth approximately $1,397,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Federated Hermes Stock Down 1.7%
Shares of Federated Hermes stock traded down $0.99 during trading on Thursday, hitting $57.01. 973,742 shares of the stock traded hands, compared to its average volume of 821,999. The company has a fifty day moving average price of $56.07 and a two-hundred day moving average price of $53.07. Federated Hermes has a twelve month low of $35.88 and a twelve month high of $59.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 2.75. The stock has a market cap of $4.33 billion, a P/E ratio of 11.62, a PEG ratio of 2.03 and a beta of 0.67.
Federated Hermes (NYSE:FHI – Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The firm had revenue of $482.83 million during the quarter, compared to analyst estimates of $468.45 million. During the same period in the previous year, the company earned $1.04 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts predict that Federated Hermes will post 4.04 EPS for the current fiscal year.
Federated Hermes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 6th. Federated Hermes’s payout ratio is 26.46%.
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.