Federated Hermes, Inc. (NYSE:FHI) Sees Large Growth in Short Interest

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,370,000 shares, an increase of 8.7% from the March 31st total of 2,180,000 shares. Currently, 2.9% of the company's shares are sold short. Based on an average daily volume of 771,800 shares, the days-to-cover ratio is presently 3.1 days.

Federated Hermes Price Performance

FHI stock traded up $0.18 during midday trading on Tuesday, reaching $32.85. 1,263,337 shares of the stock were exchanged, compared to its average volume of 784,867. The stock has a market capitalization of $2.77 billion, a PE ratio of 9.29, a P/E/G ratio of 0.77 and a beta of 1.12. Federated Hermes has a 52 week low of $30.23 and a 52 week high of $42.02. The company has a fifty day moving average price of $35.55 and a 200 day moving average price of $34.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 1.89.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company had revenue of $396.37 million for the quarter, compared to analysts' expectations of $400.26 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business's revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that Federated Hermes will post 3.76 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a None dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $1.31 per share. The ex-dividend date is Tuesday, May 7th. This is a boost from Federated Hermes's previous None dividend of $1.27. This represents a yield of 3.8%. Federated Hermes's payout ratio is 31.82%.

Insider Activity

In other news, VP Paul A. Uhlman sold 13,820 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the sale, the vice president now owns 276,084 shares of the company's stock, valued at approximately $9,994,240.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares of the company's stock, valued at approximately $1,769,882.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the sale, the vice president now directly owns 276,084 shares of the company's stock, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,775 shares of company stock valued at $4,032,822. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in shares of Federated Hermes during the 1st quarter worth $29,518,000. Wellington Management Group LLP grew its holdings in shares of Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company's stock valued at $61,395,000 after purchasing an additional 673,496 shares during the last quarter. FMR LLC lifted its stake in shares of Federated Hermes by 12.6% in the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company's stock valued at $170,470,000 after acquiring an additional 562,232 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Federated Hermes by 183.5% during the 3rd quarter. AQR Capital Management LLC now owns 801,443 shares of the company's stock valued at $27,145,000 after acquiring an additional 518,715 shares during the period. Finally, Norges Bank bought a new position in Federated Hermes during the 4th quarter worth approximately $12,474,000. Institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the topic of several analyst reports. Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, April 17th. TD Cowen began coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They set a "market perform" rating and a $32.00 price target on the stock. Finally, UBS Group upped their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.50.

About Federated Hermes

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.

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