Federated Hermes, Inc. (NYSE:FHI) Shares Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 111.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,600 shares of the company’s stock after buying an additional 17,701 shares during the quarter. Dark Forest Capital Management LP’s holdings in Federated Hermes were worth $1,105,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FHI. Headlands Technologies LLC increased its position in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Federated Hermes during the second quarter worth about $47,000. Hexagon Capital Partners LLC raised its position in shares of Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after buying an additional 317 shares during the last quarter. Neo Ivy Capital Management raised its position in shares of Federated Hermes by 637.5% in the fourth quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after buying an additional 1,224 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. 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.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $36.95 on Thursday. The business has a 50-day moving average of $34.32 and a two-hundred day moving average of $34.00. The firm has a market capitalization of $3.05 billion, a PE ratio of 10.50, a P/E/G ratio of 1.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes, Inc. has a 12 month low of $30.23 and a 12 month high of $37.43.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, research analysts forecast that Federated Hermes, Inc. will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

Analysts Set New Price Targets

FHI has been the subject of several analyst reports. UBS Group cut their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Evercore ISI reduced their target price on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. TD Cowen lowered their price target on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.67.

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.