BI Asset Management Fondsmaeglerselskab A S Raises Holdings in Federated Hermes, Inc. $FHI

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its stake in Federated Hermes by 255.9% in the first quarter, buying 104,017 additional shares and bringing its total to 144,671 shares valued at about $8.2 million.
• Federated Hermes reported better-than-expected quarterly results, with EPS of $1.27 versus the $1.20 estimate and revenue of $478.96 million, up 13.1% from a year ago.
• The company also raised its quarterly dividend to $0.38 per share from $0.34, while analysts currently rate the stock a consensus “Hold” with an average price target of $55.00.

BI Asset Management Fondsmaeglerselskab A S raised its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 255.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,671 shares of the company's stock after purchasing an additional 104,017 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.19% of Federated Hermes worth $8,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth about $25,000. MAI Capital Management raised its holdings in Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company's stock valued at $25,000 after acquiring an additional 221 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Federated Hermes by 119.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company's stock valued at $38,000 after acquiring an additional 401 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company's stock valued at $44,000 after acquiring an additional 503 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock worth $45,000 after acquiring an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada lowered their price target on shares of Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating for the company in a report on Wednesday, May 6th. Evercore restated an "outperform" rating and issued a $59.00 price objective on shares of Federated Hermes in a report on Monday, June 8th. Wall Street Zen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Finally, TD Cowen dropped their target price on Federated Hermes from $58.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Federated Hermes currently has an average rating of "Hold" and an average price target of $55.00.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $59.20 on Monday. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a 52 week low of $41.96 and a 52 week high of $59.83. The firm's 50 day moving average is $56.46 and its two-hundred day moving average is $55.08. The firm has a market capitalization of $4.49 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.11 and a beta of 0.65.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. During the same quarter in the previous year, the firm earned $1.25 EPS. The company's revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.6%. This is an increase from Federated Hermes's previous quarterly dividend of $0.34. Federated Hermes's dividend payout ratio (DPR) is 29.46%.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer directly owned 151,276 shares of the company's stock, valued at $8,674,165.84. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the transaction, the vice president owned 74,921 shares of the company's stock, valued at $4,060,718.20. This represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by insiders.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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