Bayforest Capital Ltd Takes Position in Federated Hermes, Inc. $FHI

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) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,252 shares of the company's stock, valued at approximately $540,000.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after acquiring an additional 287 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Federated Hermes during the 1st quarter worth about $72,000. UMB Bank n.a. boosted its stake in Federated Hermes by 55.1% during the 1st 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 during the period. Finally, Lazard Asset Management LLC bought a new stake in Federated Hermes during the 4th quarter valued at approximately $90,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Trading Down 0.2%

Shares of NYSE:FHI traded down $0.11 during midday trading on Monday, hitting $53.54. The company had a trading volume of 184,951 shares, compared to its average volume of 792,960. Federated Hermes, Inc. has a 12 month low of $34.79 and a 12 month high of $54.42. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.73 and a beta of 0.84. The firm has a fifty day simple moving average of $50.70 and a 200 day simple moving average of $44.26.

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

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.5%. Federated Hermes's payout ratio is currently 30.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FHI. Royal Bank Of Canada increased their target price 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. 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 note on Friday, September 5th. JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and increased their target price for the company from $40.00 to $54.00 in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.