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

Federated Hermes, Inc. (NYSE:FHI) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 2,680,000 shares, a growth of 26.4% from the February 13th total of 2,120,000 shares. Based on an average daily trading volume, of 726,200 shares, the short-interest ratio is presently 3.7 days. Approximately 3.5% of the shares of the stock are sold short.

Federated Hermes Stock Up 1.4 %

Federated Hermes stock traded up $0.56 during mid-day trading on Monday, hitting $39.57. The company’s stock had a trading volume of 813,609 shares, compared to its average volume of 651,687. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92. The company has a market cap of $3.22 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. 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 firm’s 50 day moving average is $38.62 and its 200 day moving average is $39.03.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio is currently 38.87%.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. The trade was a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently modified their holdings of FHI. FMR LLC grew its stake in Federated Hermes by 4.5% in the fourth quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after purchasing an additional 253,553 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Federated Hermes by 3.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company’s stock valued at $77,626,000 after buying an additional 63,664 shares in the last quarter. Geode Capital Management LLC increased its holdings in Federated Hermes by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock worth $52,731,000 after buying an additional 32,070 shares during the last quarter. Bank of New York Mellon Corp raised its position in Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after acquiring an additional 446,683 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after acquiring an additional 145,878 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHI has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada cut their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 target price (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Evercore ISI set a $44.00 price target on Federated Hermes in a research note on Monday, February 3rd. Finally, UBS Group upped their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.17.

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.