Bayforest Capital Ltd Decreases Stock Holdings in Federated Hermes, Inc. $FHI

Bayforest Capital Ltd trimmed its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 52.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,267 shares of the company’s stock after selling 6,985 shares during the period. Bayforest Capital Ltd’s holdings in Federated Hermes were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Federated Hermes by 3.1% during the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after purchasing an additional 265,590 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares during the period. Invesco Ltd. grew its position in Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock valued at $96,533,000 after buying an additional 137,248 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Federated Hermes by 0.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock valued at $77,650,000 after buying an additional 16,333 shares during the period. Finally, LSV Asset Management grew its position in Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company’s stock valued at $45,136,000 after buying an additional 236,313 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

FHI opened at $52.10 on Thursday. The firm has a market cap of $4.04 billion, a P/E ratio of 11.55, a PEG ratio of 0.60 and a beta of 0.80. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42. The company has a 50 day simple moving average of $52.58 and a two-hundred day simple moving average of $46.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. The business had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes’s payout ratio is 30.16%.

Analyst Upgrades and Downgrades

FHI has been the subject of several recent research reports. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Evercore ISI boosted their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and an average target price of $48.33.

Federated Hermes 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.