Man Group plc Has $8.95 Million Stake in Federated Hermes, Inc. (NYSE:FHI)

Man Group plc trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 217,728 shares of the company’s stock after selling 1,042 shares during the period. Man Group plc’s holdings in Federated Hermes were worth $8,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Federated Hermes during the 4th quarter valued at $37,000. R Squared Ltd bought a new stake in shares of Federated Hermes during the fourth quarter worth $43,000. Sound Income Strategies LLC bought a new stake in shares of Federated Hermes during the fourth quarter worth $53,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Federated Hermes during the fourth quarter worth $73,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Federated Hermes during the fourth quarter worth $90,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Stock Up 0.8%

Shares of Federated Hermes stock opened at $43.32 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The business has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $40.03. The stock has a market cap of $3.43 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, May 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.14%. Federated Hermes’s payout ratio is 38.31%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. UBS Group boosted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report 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. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada boosted their target price on Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.