13,252 Shares in Federated Hermes, Inc. (NYSE:FHI) Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd acquired 13,252 shares of Federated Hermes, Inc., valued at approximately $540,000, marking a new investment in the company during the first quarter.
• As of now, hedge funds and institutional investors own 75.94% of Federated Hermes' stock, with multiple firms increasing their stakes last quarter.
• Analysts have varied opinions on Federated Hermes, with one upgrading it to a "strong-buy" rating, while others set price targets between $40.00 and $45.00 for the stock.

Bayforest Capital Ltd purchased a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,252 shares of the company's stock, valued at approximately $540,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after acquiring an additional 614 shares in the last quarter. Quarry LP bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $37,000. UMB Bank n.a. boosted its position in shares of Federated Hermes by 55.1% during the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock valued at $84,000 after purchasing an additional 734 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Federated Hermes in the fourth quarter worth $90,000. Finally, Asset Management One Co. Ltd. bought a new stake in Federated Hermes in the first quarter worth $120,000. Hedge funds and other institutional investors own 75.94% of the company's stock.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.80% of the stock is owned by corporate insiders.

Federated Hermes Stock Down 0.6%

NYSE FHI traded down $0.32 on Friday, reaching $49.25. 1,563,862 shares of the stock traded hands, compared to its average volume of 559,517. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. The company has a fifty day moving average price of $44.81 and a 200-day moving average price of $41.25. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.91 and a beta of 0.77. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $50.09.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.51% and a net margin of 21.67%. The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same period last year, the business posted $0.96 EPS. The business's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 8th. Federated Hermes's dividend payout ratio is currently 38.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FHI shares. JPMorgan Chase & Co. upped their price target on Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Wednesday, July 9th. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada increased their price target on Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. Finally, Evercore ISI raised their price objective on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Federated Hermes presently has an average rating of "Hold" and a consensus price target of $42.50.

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.