Federated Hermes, Inc. (NYSE:FHI) Stock Position Raised by Dark Forest Capital Management LP

Dark Forest Capital Management LP boosted its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 534.3% during the 4th quarter, HoldingsChannel reports. The firm owned 34,875 shares of the company’s stock after buying an additional 29,377 shares during the quarter. Dark Forest Capital Management LP’s holdings in Federated Hermes were worth $1,434,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Federated Hermes by 4.5% during the fourth quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after buying an additional 253,553 shares in the last quarter. Geode Capital Management LLC grew its stake in Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock valued at $52,731,000 after acquiring an additional 32,070 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after purchasing an additional 446,683 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Federated Hermes by 48.2% during the fourth quarter. LSV Asset Management now owns 870,776 shares of the company’s stock worth $35,798,000 after purchasing an additional 283,300 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $37.19 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a market capitalization of $3.02 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.00 and a beta of 0.84. The business has a 50-day moving average of $38.60 and a two-hundred day moving average of $39.59. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. On average, equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio is 38.87%.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st. Royal Bank of Canada lowered their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. Evercore ISI cut their price target on Federated Hermes from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.17.

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.