Federated Hermes, Inc. $FHI Position Reduced by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its stake in Federated Hermes by 16.4% in Q3, selling 43,052 shares and now holding 218,741 shares (0.28% of the company) valued at about $11.36 million.
• Several large asset managers — including AQR, LSV, Allianz, Arrowstreet and Qube — substantially increased their positions (AQR up ~20% to ~2.98M shares), and institutional investors now own 75.94% of the stock.
• Federated Hermes beat quarterly EPS estimates ($1.39 vs. $1.20) with revenue up 13.7%, pays a $0.34 quarterly dividend (≈2.4% yield), and carries a consensus analyst rating of "Hold" with a $55 price target.

JPMorgan Chase & Co. lowered its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 16.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 218,741 shares of the company's stock after selling 43,052 shares during the period. JPMorgan Chase & Co. owned 0.28% of Federated Hermes worth $11,359,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Federated Hermes by 20.1% in the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company's stock valued at $132,024,000 after buying an additional 498,202 shares during the last quarter. LSV Asset Management grew its position in shares of Federated Hermes by 22.1% in the 3rd quarter. LSV Asset Management now owns 2,401,001 shares of the company's stock worth $124,684,000 after acquiring an additional 434,859 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Federated Hermes by 19.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company's stock valued at $52,357,000 after acquiring an additional 167,225 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Federated Hermes by 21.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 852,594 shares of the company's stock valued at $37,787,000 after acquiring an additional 152,134 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Federated Hermes by 405.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 607,504 shares of the company's stock valued at $26,925,000 after acquiring an additional 487,281 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

FHI has been the subject of several recent research reports. Zacks Research lowered shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 9th. TD Cowen reaffirmed a "hold" rating on shares of Federated Hermes in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Argus raised shares of Federated Hermes to a "hold" rating in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $55.00.

Federated Hermes Stock Performance

FHI opened at $56.95 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $54.03 and its 200-day moving average is $52.31. The stock has a market cap of $4.42 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.55 and a beta of 0.73. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $57.33.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The firm had revenue of $482.83 million for the quarter, compared to analysts' expectations of $468.45 million. During the same period last year, the firm earned $1.04 EPS. The firm's revenue was up 13.7% compared to the same quarter last year. On average, analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. Federated Hermes's dividend payout ratio is presently 26.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.