Crestline Management LP Increases Holdings in Federated Hermes, Inc. (NYSE:FHI)

Crestline Management LP increased its stake in Federated Hermes, Inc. (NYSE:FHI) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,622 shares of the company’s stock after acquiring an additional 973 shares during the period. Crestline Management LP’s holdings in Federated Hermes were worth $601,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Federated Hermes during the 4th quarter valued at approximately $37,000. R Squared Ltd bought a new position in Federated Hermes during the fourth quarter valued at $43,000. Sound Income Strategies LLC bought a new position in Federated Hermes during the fourth quarter valued at $53,000. GAMMA Investing LLC raised its stake in shares of Federated Hermes by 60.9% in the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock valued at $70,000 after acquiring an additional 646 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Federated Hermes in the 4th quarter worth about $73,000. 75.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Federated Hermes Stock Performance

FHI stock opened at $42.82 on Friday. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The business has a 50-day moving average price of $39.26 and a 200 day moving average price of $39.89. The company has a market capitalization of $3.39 billion, a P/E ratio of 13.42, a PEG ratio of 1.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03.

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

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. Federated Hermes’s dividend payout ratio (DPR) is currently 38.31%.

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.