Cambria Investment Management L.P. Cuts Stock Holdings in Federated Hermes, Inc. $FHI

Cambria Investment Management L.P. lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,835 shares of the company’s stock after selling 18,050 shares during the quarter. Federated Hermes comprises approximately 0.8% of Cambria Investment Management L.P.’s holdings, making the stock its 13th largest holding. Cambria Investment Management L.P. owned 0.33% of Federated Hermes worth $13,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FHI. Burney Co. lifted its position in shares of Federated Hermes by 11.8% in the third quarter. Burney Co. now owns 135,132 shares of the company’s stock worth $7,017,000 after buying an additional 14,253 shares in the last quarter. Seizert Capital Partners LLC grew its holdings in Federated Hermes by 47.2% during the 3rd quarter. Seizert Capital Partners LLC now owns 82,524 shares of the company’s stock valued at $4,285,000 after buying an additional 26,459 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in Federated Hermes by 2,427.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after buying an additional 506,500 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in Federated Hermes by 3,592.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company’s stock worth $2,410,000 after acquiring an additional 45,155 shares during the last quarter. Finally, Vest Financial LLC bought a new stake in Federated Hermes in the 3rd quarter worth approximately $1,397,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE:FHI opened at $56.90 on Wednesday. The stock’s fifty day moving average is $54.54 and its 200 day moving average is $52.47. Federated Hermes, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $57.82. The firm has a market capitalization of $4.41 billion, a PE ratio of 11.07, a PEG ratio of 1.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The company had revenue of $482.83 million during the quarter, compared to the consensus estimate of $468.45 million. During the same period last year, the company earned $1.04 earnings per share. Federated Hermes’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.4%. Federated Hermes’s payout ratio is currently 26.46%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Argus raised shares of Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.00.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.