13,252 Shares in Federated Hermes, Inc. $FHI Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has taken a new position in Federated Hermes, acquiring 13,252 shares valued at approximately $540,000 in the first quarter.
• JPMorgan Chase & Co. upgraded Federated Hermes from "underweight" to "neutral," raising the target price from $40.00 to $54.00.
• The company recently declared a quarterly dividend of $0.34, representing an annualized dividend of $1.36 with a yield of 2.6%.

Bayforest Capital Ltd purchased a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,252 shares of the company's stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FHI. Farther Finance Advisors LLC boosted its stake in Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after buying an additional 287 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Federated Hermes in the first quarter worth approximately $72,000. UMB Bank n.a. increased its holdings in Federated Hermes by 55.1% during the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after purchasing an additional 734 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Federated Hermes during the 4th quarter worth $90,000. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Down 0.8%

Shares of Federated Hermes stock traded down $0.42 during trading hours on Friday, reaching $53.68. 338,257 shares of the company were exchanged, compared to its average volume of 495,845. Federated Hermes, Inc. has a 1 year low of $34.44 and a 1 year high of $54.42. The stock's fifty day moving average is $50.70 and its 200 day moving average is $44.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The firm has a market cap of $4.16 billion, a PE ratio of 11.90, a PEG ratio of 0.74 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.Federated Hermes's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes's dividend payout ratio (DPR) is currently 30.16%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FHI shares. Evercore ISI increased their target price on Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada lifted their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $40.00 to $54.00 in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Federated Hermes has an average rating of "Hold" and a consensus price target of $48.17.

Federated Hermes Company 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.