Federated Hermes, Inc. (NYSE:FHI) Short Interest Up 26.4% in February

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

Federated Hermes Price Performance

Shares of FHI stock opened at $39.17 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 firm’s 50-day moving average is $38.62 and its two-hundred day moving average is $39.06. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a market capitalization of $3.19 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating 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%. Analysts predict 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 paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

Insider Activity

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

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 111 Capital purchased a new stake in shares of Federated Hermes in the 4th quarter valued at approximately $427,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Federated Hermes in the 4th quarter valued at approximately $5,817,000. ABLE Financial Group LLC raised its stake in shares of Federated Hermes by 19.3% in the 4th quarter. ABLE Financial Group LLC now owns 37,164 shares of the company’s stock valued at $1,528,000 after acquiring an additional 6,020 shares during the period. CSS LLC IL acquired a new position in shares of Federated Hermes in the fourth quarter valued at approximately $641,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Federated Hermes by 13.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,653 shares of the company’s stock valued at $8,824,000 after purchasing an additional 24,964 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on FHI. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price target on shares of 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 set a $44.00 price target on shares of Federated Hermes in a research note on Monday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, UBS Group raised their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes presently 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.