BNP Paribas Financial Markets Sells 48,596 Shares of Federated Hermes, Inc. (NYSE:FHI)

BNP Paribas Financial Markets lessened its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 69.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,393 shares of the company's stock after selling 48,596 shares during the quarter. BNP Paribas Financial Markets' holdings in Federated Hermes were worth $879,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Federated Hermes by 228.6% during the third quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after acquiring an additional 150,017 shares during the last quarter. MBM Wealth Consultants LLC raised its position in Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company's stock worth $306,000 after purchasing an additional 474 shares during the last quarter. Inspire Investing LLC acquired a new position in Federated Hermes during the 4th quarter worth about $829,000. Sound Income Strategies LLC acquired a new position in Federated Hermes during the 4th quarter worth about $53,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Federated Hermes by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company's stock valued at $914,000 after buying an additional 560 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FHI. Royal Bank of Canada lifted their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI upped their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. UBS Group increased their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes has an average rating of "Hold" and an average price target of $42.33.

Federated Hermes Trading Up 0.9%

Shares of Federated Hermes stock traded up $0.36 on Tuesday, reaching $42.44. 931,797 shares of the company's stock were exchanged, compared to its average volume of 734,651. The company has a market capitalization of $3.36 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The firm's 50-day moving average is $40.15 and its two-hundred day moving average is $40.11.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. The company had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Federated Hermes's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, May 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is 38.31%.

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.