Federated Hermes, Inc. (NYSE:FHI) Short Interest Update

Federated Hermes, Inc. (NYSE:FHI) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,910,000 shares, a decline of 34.6% from the October 15th total of 2,920,000 shares. Based on an average trading volume of 554,000 shares, the short-interest ratio is presently 3.4 days. Approximately 2.4% of the company’s shares are sold short.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded up $0.17 on Friday, reaching $42.18. 553,269 shares of the stock were exchanged, compared to its average volume of 711,846. Federated Hermes has a one year low of $31.08 and a one year high of $42.56. The firm has a market cap of $3.45 billion, a PE ratio of 13.56, a P/E/G ratio of 1.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The firm’s 50 day moving average is $37.92 and its 200-day moving average is $34.84.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, analysts anticipate that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, November 8th. Federated Hermes’s payout ratio is 39.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FHI shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. UBS Group upped their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI raised their price target on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares in the company, valued at $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after purchasing an additional 45,214 shares during the last quarter. FMR LLC raised its position in shares of Federated Hermes by 2.5% during the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after acquiring an additional 137,245 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after acquiring an additional 1,261,097 shares during the period. Geode Capital Management LLC boosted its holdings in Federated Hermes by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after acquiring an additional 92,643 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares during the period. Institutional investors own 75.94% of the company’s stock.

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.