Jane Street Group LLC Decreases Stake in Federated Hermes, Inc. (NYSE:FHI)

Jane Street Group LLC lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 55.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,574 shares of the company’s stock after selling 69,996 shares during the period. Jane Street Group LLC owned 0.07% of Federated Hermes worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of FHI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Federated Hermes during the fourth quarter valued at about $292,000. Inspire Investing LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth about $829,000. Charles Schwab Investment Management Inc. grew its position in shares of Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after buying an additional 145,878 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth about $461,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Federated Hermes in the fourth quarter valued at approximately $585,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $42.91 on Friday. 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 fifty day moving average price of $39.57 and a 200 day moving average price of $40.01. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a market cap of $3.39 billion, a PE ratio of 13.45, a P/E/G ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same quarter last year, the company earned $0.89 earnings per share. Federated Hermes’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s dividend payout ratio (DPR) is 38.31%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FHI. StockNews.com raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Royal Bank of Canada boosted their price objective on Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price target (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Evercore ISI increased their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, UBS Group increased their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.33.

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.