Legato Capital Management LLC, a leading investment management firm, has recently reported a decrease in its holdings of Federated Hermes, Inc. The firm’s most recent filing with the Securities and Exchange Commission revealed a reduction of 21.3% in its holdings during the first quarter of this year. This move by Legato Capital Management LLC has resulted in the sale of 3,191 shares, leaving them with a total of 11,810 shares of Federated Hermes’ stock. At the end of the reporting period, these shares were valued at approximately $474,000.
Federated Hermes is an esteemed company that operates in the financial services industry. It offers various investment solutions and products to a wide range of clients across different sectors. The company recently announced its quarterly dividend payment schedule. As per the declaration, eligible shareholders will receive a dividend on Monday, October 2nd. To qualify for this dividend payout, investors need to hold shares before Friday, September 22nd as recorded by the company. The dividend amount per share is $0.035.
Investors are advised to be mindful of key dates related to dividends. September 21st marks the ex-dividend date for Federated Hermes’ upcoming payment. This implies that any purchases made after this date will not be entitled to receive the declared dividend for this particular cycle.
The annualized dividend yield for Federated Hermes currently stands at 0.41%, with an annualized dividend payout ratio of 37.33%. These figures give investors insights into the profitability and potential return on investment through dividends offered by the company.
While Legato Capital Management LLC has chosen to reduce its holdings in Federated Hermes, it is important to note that this decision does not reflect negatively on either party but rather signifies their strategic moves based on market trends or other factors influencing their investment strategies.
As always, caution should be exercised when considering investment decisions based on individual companies and their dividend outlooks. Investors should conduct proper research, considering various factors such as a company’s financial health, industry performance, and market conditions before making any investment moves.
Overall, the recent decline in Legato Capital Management LLC’s holdings of Federated Hermes indicates a shift in their investment strategy. It is worth observing how this move may play out in the coming months and whether it signifies a larger trend among other institutional investors. In the world of finance, changes in holdings can often act as indicators of market sentiment and warrant attention from all stakeholders involved.
Federated Hermes Attracts Major Investments as Stock Surges amid Positive Financial Performance
In recent months, Federated Hermes has caught the attention of several large investors, leading to a surge in the company’s stock. Ameriprise Financial Inc. and JPMorgan Chase & Co. are among the notable investors who have significantly increased their holdings in Federated Hermes.
In the first quarter, Ameriprise Financial acquired an additional 3,423 shares of Federated Hermes, raising its overall holdings by 2.3%. This amounted to a total of 153,188 shares worth $6,149,000. Similarly, JPMorgan Chase & Co. significantly boosted its stake in the company by purchasing an additional 161,585 shares during the same period. As a result, they now own 431,861 shares valued at $17,335,000.
Thrivent Financial for Lutherans also saw fit to increase its holdings in Federated Hermes during the first quarter. Their acquisition of 86,477 shares brought their total ownership to 1,141,735 shares amounting to $45,829,000. Cim Investment Management Inc., on the other hand, took a more modest approach but still managed to raise its stake by 3.6% with an additional 455 shares valued at $532,000.
The recent interest from these prominent investors highlights the attractiveness of Federated Hermes as an investment opportunity in today’s market. Moreover, Apollon Wealth Management LLC entered into a new position with Federated Hermes during this period with a value estimated at approximately $339,000.
Interestingly enough is the fact that institutional investors and hedge funds currently account for 76.65% of all shares held by investors in the company. This indicates that there is substantial confidence from industry professionals regarding Federated Hermes’ potential for growth and profitability.
Recent research analyst reports further support this sentiment surrounding Federated Hermes’ stock performance. StockNews.com downgraded their rating from “buy” to “hold,” while JPMorgan Chase & Co. maintained an “overweight” rating but reduced their target price from $47.00 to $45.00. Jefferies Financial Group decreased their target price from $41.00 to $38.00, and Royal Bank of Canada dropped theirs from $39.00 to $35.00, assuring a “sector perform” rating.
Despite these ratings adjustments, the consensus average rating for Federated Hermes stock is still classified as a “Moderate Buy” by Bloomberg analysts with a consensus target price of $41.60, indicating a possible increase in value in the near future.
Federated Hermes opened at $34.50 per share on September 15th, 2023, with a market capitalization of $3.05 billion. The company’s price-to-earnings ratio stands at 11.50 and has a beta of 1.04, rendering it a moderately volatile stock in relation to market fluctuations.
With its fifty-two week low at $30.30 and high at $45.55, Federated Hermes has proven to be quite resilient during these tumultuous times for financial markets worldwide.
Additional financial indicators include a debt-to-equity ratio of 0.31 and current and quick ratios of 2.96 and 2.20, respectively.
Federated Hermes’ recent quarterly earnings announcement on July 27th showcased promising results that surpassed analyst estimates.
The company reported earnings per share of $0.81 compared to an estimated $0.
80.
Revenue for the quarter amounted to
$433.
23 million,
which exceeded the anticipated
$392.
73 million.
Moreover, Federated Hermes demonstrated an impressive return on equity of 27.
30% along with a net margin of 17.
05%.
Looking forward, research analysts predict that Federated Hermes will generate earnings per share estimated at 3.
29 for the current year.
Considering all these factors, Federated Hermes continues to exhibit strong financial performance, attracting significant investments from reputable institutions. The company’s consistent growth and positive earnings results have solidified its position as a promising investment option in today’s market.