Jupiter Asset Management Ltd. Has $30.68 Million Stake in Federated Hermes, Inc. $FHI

Key Points

• Jupiter Asset Management Ltd. boosted its Federated Hermes stake by 11.7% in the fourth quarter, ending with 589,140 shares worth about $30.68 million.
• Wall Street sentiment is mixed: analysts currently average a “Hold” rating on Federated Hermes, with an average price target of $54, slightly below the stock’s recent trading level.
• The company posted a better-than-expected quarter, with earnings of $1.27 per share on revenue of $478.96 million, and it also raised its quarterly dividend to $0.38 per share.

Jupiter Asset Management Ltd. increased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 589,140 shares of the company's stock after buying an additional 61,772 shares during the period. Jupiter Asset Management Ltd. owned 0.76% of Federated Hermes worth $30,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FHI. MAI Capital Management increased its stake in shares of Federated Hermes by 86.7% during 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 Federated Hermes during the fourth quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Federated Hermes during the second quarter valued at about $56,000. EverSource Wealth Advisors LLC lifted its position in shares of Federated Hermes by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company's stock worth $69,000 after buying an additional 679 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Federated Hermes in the third quarter worth about $75,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank Of Canada cut their price objective on Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 6th. Argus raised shares of Federated Hermes to a "hold" rating in a research report on Monday, February 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of 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, TD Cowen dropped their target price on shares of Federated Hermes from $58.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Federated Hermes currently has an average rating of "Hold" and an average price target of $54.00.

Federated Hermes Stock Performance

NYSE FHI opened at $55.33 on Friday. The company's fifty day moving average is $56.22 and its two-hundred day moving average is $54.14. Federated Hermes, Inc. has a 52-week low of $41.55 and a 52-week high of $59.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 2.04 and a beta of 0.67.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. During the same period last year, the business earned $1.25 earnings per share. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Federated Hermes's previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. Federated Hermes's dividend payout ratio is currently 29.46%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of Federated Hermes stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president owned 263,987 shares in the company, valued at $14,843,989.01. The trade was a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bryan M. Burke sold 4,000 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction 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 trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by company insiders.

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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