Federated Hermes, Inc. (NYSE:FHI) Short Interest Up 14.4% in June

Federated Hermes, Inc. (NYSE:FHI) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,330,000 shares, a growth of 14.4% from the May 31st total of 2,910,000 shares. Based on an average daily trading volume, of 849,200 shares, the short-interest ratio is presently 3.9 days. Approximately 4.1% of the company’s stock are short sold.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the transaction, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 975 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the sale, the vice president now owns 299,572 shares of the company’s stock, valued at $9,885,876. The disclosure for this sale can be found here. Insiders sold 2,361 shares of company stock valued at $76,360 over the last quarter. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of FHI. Hsbc Holdings PLC lifted its holdings in shares of Federated Hermes by 308.9% during the third quarter. Hsbc Holdings PLC now owns 34,922 shares of the company’s stock valued at $1,188,000 after acquiring an additional 26,382 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Federated Hermes in the third quarter valued at about $538,000. Tower Research Capital LLC TRC grew its stake in Federated Hermes by 18.4% during the third quarter. Tower Research Capital LLC TRC now owns 13,124 shares of the company’s stock worth $445,000 after buying an additional 2,043 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Federated Hermes by 183.5% during the third quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after buying an additional 518,715 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Federated Hermes in the 3rd quarter worth approximately $2,418,000. Institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI cut their price target on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, UBS Group boosted their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.29.

Federated Hermes Stock Performance

Federated Hermes stock traded down $0.01 on Wednesday, hitting $33.04. The company’s stock had a trading volume of 9,961 shares, compared to its average volume of 784,574. Federated Hermes has a one year low of $30.23 and a one year high of $37.31. The firm has a market cap of $2.78 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.17. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $32.69 and a 200-day moving average price of $34.25.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The business had revenue of $396.37 million for the quarter, compared to analyst estimates of $400.26 million. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Federated Hermes will post 3.6 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently announced a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a $1.31 dividend. The ex-dividend date was Tuesday, May 7th. This is a boost from Federated Hermes’s previous None dividend of $1.27. This represents a dividend yield of 3.8%. Federated Hermes’s dividend payout ratio is presently 35.23%.

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.