Brevan Howard Capital Management LP Has $406,000 Stake in Federated Hermes, Inc. (NYSE:FHI)

Brevan Howard Capital Management LP lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,878 shares of the company’s stock after selling 18,177 shares during the period. Brevan Howard Capital Management LP’s holdings in Federated Hermes were worth $406,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Baird Financial Group Inc. raised its holdings in Federated Hermes by 4.0% in the 4th quarter. Baird Financial Group Inc. now owns 29,417 shares of the company’s stock valued at $1,209,000 after acquiring an additional 1,126 shares in the last quarter. Basswood Capital Management L.L.C. bought a new stake in Federated Hermes during the fourth quarter worth about $3,321,000. Ameriprise Financial Inc. grew its stake in Federated Hermes by 1.4% during the fourth quarter. Ameriprise Financial Inc. now owns 139,957 shares of the company’s stock worth $5,754,000 after buying an additional 1,880 shares in the last quarter. Algert Global LLC increased its holdings in Federated Hermes by 5.6% in the 4th quarter. Algert Global LLC now owns 373,141 shares of the company’s stock valued at $15,340,000 after buying an additional 19,899 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Federated Hermes in the 4th quarter valued at approximately $3,812,000. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Up 0.4 %

Shares of NYSE FHI opened at $42.82 on Friday. The firm has a 50 day moving average price of $39.26 and a two-hundred day moving average price of $39.91. The stock has a market cap of $3.39 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $425.43 million. During the same period last year, the company earned $0.89 EPS. Federated Hermes’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.18%. 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 dividend payout ratio is currently 38.31%.

Analysts Set New Price Targets

FHI has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Evercore ISI lifted their target price on Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. 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, Royal Bank of Canada upped their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.