Geode Capital Management LLC Has $52.73 Million Stake in Federated Hermes, Inc. (NYSE:FHI)

Geode Capital Management LLC grew its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,282,252 shares of the company's stock after buying an additional 32,070 shares during the quarter. Geode Capital Management LLC owned approximately 1.57% of Federated Hermes worth $52,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Federated Hermes by 53.8% in 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 acquiring an additional 446,683 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 valued at $37,618,000 after purchasing an additional 145,878 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Federated Hermes by 51.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock valued at $33,645,000 after purchasing an additional 278,524 shares in the last quarter. JPMorgan Chase & Co. raised its position in Federated Hermes by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 268,221 shares of the company's stock worth $11,027,000 after purchasing an additional 16,399 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Federated Hermes by 101.1% in the 4th quarter. Schroder Investment Management Group now owns 266,811 shares of the company's stock worth $10,921,000 after purchasing an additional 134,168 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FHI shares. StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, UBS Group upped their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and a consensus price target of $41.17.

Federated Hermes Trading Up 0.3 %

NYSE:FHI traded up $0.11 during trading hours on Friday, hitting $37.58. The stock had a trading volume of 520,289 shares, compared to its average volume of 734,685. The business's 50 day moving average is $38.65 and its 200-day moving average is $39.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.00 and a beta of 0.84. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a yield of 3.30%. Federated Hermes's dividend payout ratio (DPR) is currently 38.87%.

Insider Activity

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction dated Friday, February 7th. The stock was 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 of the company's stock, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company's stock.

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.