Short Interest in Federated Hermes, Inc. (NYSE:FHI) Grows By 29.3%

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,120,000 shares, a growth of 29.3% from the January 31st total of 1,640,000 shares. Based on an average daily trading volume, of 644,700 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.7% of the shares of the stock are short sold.

Federated Hermes Trading Down 0.3 %

Federated Hermes stock traded down $0.13 during trading hours on Friday, reaching $38.84. 1,066,442 shares of the company's stock were exchanged, compared to its average volume of 732,912. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The firm's 50 day simple moving average is $38.91 and its 200 day simple moving average is $38.79. The firm has a market capitalization of $3.18 billion, a PE ratio of 12.18, a PEG ratio of 1.00 and a beta of 1.10. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Research analysts predict that Federated Hermes will post 4.04 earnings per share for the current year.

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Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.31 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.19%. Federated Hermes's dividend payout ratio (DPR) is presently 38.87%.

Insider Buying and Selling

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Federated Hermes by 53.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after purchasing an additional 446,683 shares in the last quarter. LSV Asset Management lifted its stake in Federated Hermes by 48.2% in the fourth quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after purchasing an additional 283,300 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Federated Hermes by 51.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after purchasing an additional 278,524 shares during the last quarter. Norges Bank bought a new stake in Federated Hermes in the fourth quarter worth $10,639,000. Finally, FMR LLC lifted 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 worth $243,367,000 after purchasing an additional 253,553 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. StockNews.com raised Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 3rd. UBS Group lifted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $43.00 price target (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.17.

Federated Hermes Company 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.