Federated Hermes, Inc. $FHI Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has significantly decreased its holdings in Federated Hermes, Inc. by 78.3%, now owning only 48,708 shares valued at under $2 million.
• While Trexquant reduced its stakes, Charles Schwab Investment Management Inc. greatly increased its holdings by 249.7%, now owning over 3 million shares worth approximately $130 million.
• Federated Hermes recently reported earnings of $1.16 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.34, reflecting a yield of 2.5%.

Trexquant Investment LP decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 78.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,708 shares of the company's stock after selling 176,184 shares during the quarter. Trexquant Investment LP owned about 0.06% of Federated Hermes worth $1,986,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FHI. Farther Finance Advisors LLC grew its holdings in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after buying an additional 614 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Federated Hermes by 22.7% during 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 in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Federated Hermes during the first quarter worth $72,000. UMB Bank n.a. grew its holdings in shares of Federated Hermes by 55.1% during the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after buying an additional 734 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Federated Hermes during the fourth quarter worth $90,000. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FHI. Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Evercore ISI boosted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $48.17.

Federated Hermes Stock Performance

Shares of FHI traded up $0.22 during mid-day trading on Wednesday, reaching $52.77. 394,226 shares of the company's stock were exchanged, compared to its average volume of 541,562. The business's fifty day simple moving average is $50.37 and its 200-day simple moving average is $43.96. Federated Hermes, Inc. has a 52-week low of $33.38 and a 52-week high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The stock has a market capitalization of $4.09 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84.

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

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes's payout ratio is presently 30.16%.

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.