Hsbc Holdings PLC Grows Position in Federated Hermes, Inc. $FHI

Key Points

• Hsbc Holdings PLC increased its stake in Federated Hermes, Inc. by 104.5%, owning 36,416 shares valued at approximately $1.48 million after purchasing an additional 18,610 shares in the first quarter.
• Federated Hermes reported a 5.5% increase in quarterly revenue, with earnings of $1.16 per share, exceeding analysts' expectations of $0.99.
• The company announced a quarterly dividend of $0.34 per share, contributing to an annualized yield of 2.5% and a payout ratio of 30.16%.

Hsbc Holdings PLC increased its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 104.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,416 shares of the company's stock after buying an additional 18,610 shares during the period. Hsbc Holdings PLC's holdings in Federated Hermes were worth $1,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of Federated Hermes by 0.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company's stock worth $77,650,000 after buying an additional 16,333 shares during the period. Versor Investments LP acquired a new position in Federated Hermes in the first quarter valued at approximately $1,464,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Federated Hermes by 12.6% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 89,504 shares of the company's stock valued at $3,649,000 after purchasing an additional 10,044 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Federated Hermes by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 88,688 shares of the company's stock valued at $3,616,000 after purchasing an additional 9,071 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Federated Hermes by 0.5% in the first quarter. HighTower Advisors LLC now owns 439,253 shares of the company's stock valued at $17,908,000 after purchasing an additional 2,041 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

Shares of FHI stock traded down $0.46 during trading hours on Friday, hitting $53.15. The stock had a trading volume of 594,684 shares, compared to its average volume of 677,571. The firm has a market capitalization of $4.12 billion, a PE ratio of 12.18, a PEG ratio of 0.72 and a beta of 0.84. Federated Hermes, Inc. has a twelve month low of $33.29 and a twelve month high of $54.42. The stock's 50 day moving average is $48.97 and its 200 day moving average is $43.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

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

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 8th. Federated Hermes's dividend payout ratio is 30.16%.

Analyst Upgrades and Downgrades

FHI has been the subject of a number of research analyst reports. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada upped their price target on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI upped their price target on Federated Hermes from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price target for the company from $40.00 to $54.00 in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $47.00.

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.