Hsbc Holdings PLC Raises Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Hsbc Holdings PLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 212.3% during the 4th quarter, Holdings Channel reports. The firm owned 17,806 shares of the company’s stock after buying an additional 12,105 shares during the period. Hsbc Holdings PLC’s holdings in Federated Hermes were worth $731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FHI. Walleye Capital LLC lifted its holdings in Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock worth $283,000 after buying an additional 269 shares in the last quarter. Amalgamated Bank increased its position in shares of Federated Hermes by 1.0% during the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock worth $1,341,000 after acquiring an additional 313 shares during the period. MBM Wealth Consultants LLC raised its stake in shares of Federated Hermes by 6.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after acquiring an additional 474 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Federated Hermes by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after purchasing an additional 474 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Federated Hermes by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock worth $914,000 after purchasing an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $41.54 on Tuesday. The company has a market cap of $3.29 billion, a PE ratio of 13.02, a P/E/G 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 stock has a fifty day moving average price of $38.92 and a 200 day moving average price of $39.80.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The business had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. During the same period last year, the firm earned $0.89 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Thursday, May 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s payout ratio is 38.31%.

Insider Buying and Selling at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada reduced their price objective on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.67.

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.