Federated Hermes, Inc. $FHI Stake Increased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its Federated Hermes stake by 34.6% in the first quarter, ending with 337,326 shares valued at about $19.1 million.
• Federated Hermes reported better-than-expected Q1 results, with EPS of $1.27 versus $1.20 expected and revenue of $478.96 million, up 13.1% from a year earlier.
• The company also raised its quarterly dividend to $0.38 per share from $0.34, implying an annualized yield of 2.7%; meanwhile, analysts currently rate the stock a consensus Hold with a $55 average price target.

Janney Montgomery Scott LLC boosted its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 34.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,326 shares of the company's stock after acquiring an additional 86,658 shares during the period. Janney Montgomery Scott LLC owned 0.44% of Federated Hermes worth $19,130,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FHI. MAI Capital Management increased its position in shares of Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company's stock worth $25,000 after purchasing an additional 221 shares during the last quarter. Torren Management LLC bought a new position in shares of Federated Hermes during the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC grew 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 worth $38,000 after purchasing an additional 401 shares in the last quarter. Parkside Financial Bank & Trust grew 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 worth $44,000 after purchasing an additional 503 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock valued at $45,000 after buying an additional 594 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FHI has been the topic of a number of research analyst reports. Evercore reaffirmed an "outperform" rating and set a $59.00 target price on shares of Federated Hermes in a report on Monday, June 8th. Royal Bank Of Canada lowered their price target on Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating for the company in a report on Wednesday, May 6th. Wall Street Zen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. reduced their price objective on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $55.00.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at $8,674,165.84. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction on 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 sale, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company's stock.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $55.32 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average price is $56.51 and its two-hundred day moving average price is $55.41. Federated Hermes, Inc. has a 52-week low of $44.18 and a 52-week high of $60.17. The stock has a market capitalization of $4.20 billion, a P/E ratio of 10.72, a P/E/G ratio of 2.01 and a beta of 0.65.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.07. The company had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.Federated Hermes's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, sell-side analysts forecast 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 given a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.7%. This is an increase from Federated Hermes's previous quarterly dividend of $0.34. Federated Hermes's payout ratio is presently 29.46%.

Federated Hermes 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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