Burney Co. Has $7.19 Million Stake in Federated Hermes, Inc. $FHI

Key Points

• Burney Co. reduced its stake in Federated Hermes by 42.1% in the first quarter, leaving it with 126,714 shares valued at about $7.19 million. Institutional investors still own a large majority of the stock, at 75.94%.
• Analyst sentiment is mixed, with several firms adjusting targets and ratings. The stock’s consensus rating is Hold, with an average price target of $55.75.
• Federated Hermes reported better-than-expected quarterly results, including EPS of $1.27 versus the $1.20 estimate and revenue growth of 13.1% year over year. The company also raised its quarterly dividend to $0.38 per share from $0.34.

Burney Co. trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 42.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,714 shares of the company's stock after selling 91,947 shares during the quarter. Burney Co. owned 0.17% of Federated Hermes worth $7,186,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Torren Management LLC bought a new position in shares of Federated Hermes during the 4th quarter valued at approximately $25,000. Root Financial Partners LLC raised its holdings in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company's stock worth $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC lifted its stake 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 purchasing an additional 401 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake 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 purchasing an additional 503 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Federated Hermes by 220.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock valued at $45,000 after purchasing an additional 594 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on FHI. TD Cowen decreased their target price on Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada lifted their price objective on Federated Hermes from $54.00 to $57.00 and gave the stock a "sector perform" rating in a report on Thursday. Evercore restated an "outperform" rating and issued a $59.00 price objective on shares of Federated Hermes in a research note on Monday, June 8th. Wall Street Zen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an "underweight" rating on the stock in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $55.75.

Insider Transactions at Federated Hermes

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

Federated Hermes Trading Up 2.3%

Shares of FHI stock opened at $57.90 on Tuesday. The company's fifty day simple moving average is $56.46 and its two-hundred day simple moving average is $55.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. Federated Hermes, Inc. has a 1 year low of $45.03 and a 1 year high of $60.17. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 2.02 and a beta of 0.65.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. The business's quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Federated Hermes, Inc. will post 5.12 earnings per share for the current year.

Federated Hermes Increases Dividend

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

Federated Hermes Company Profile

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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