Federated Hermes, Inc. (NYSE:FHI) Stake Trimmed by Algebris UK Ltd

Algebris UK Ltd trimmed its stake in Federated Hermes, Inc. (NYSE:FHI) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,401 shares of the company’s stock after selling 44,448 shares during the quarter. Federated Hermes makes up 2.7% of Algebris UK Ltd’s holdings, making the stock its 9th biggest position. Algebris UK Ltd owned approximately 0.36% of Federated Hermes worth $10,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Federated Hermes by 0.8% in the third quarter. Vanguard Group Inc. now owns 8,568,361 shares of the company’s stock valued at $290,210,000 after purchasing an additional 68,974 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Federated Hermes by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,410,128 shares of the company’s stock valued at $81,607,000 after purchasing an additional 49,928 shares during the period. Wellington Management Group LLP increased its holdings in Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after acquiring an additional 673,496 shares during the period. Goldman Sachs Group Inc. increased its holdings in Federated Hermes by 39.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after acquiring an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Federated Hermes during the 1st quarter worth approximately $29,518,000. Institutional investors own 75.94% of the company’s stock.

Analysts Set New Price Targets

FHI has been the topic of a number of analyst reports. Evercore ISI decreased their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their target price on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen decreased their target price on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

Federated Hermes Price Performance

FHI stock traded up $0.20 during midday trading on Friday, reaching $33.90. The company had a trading volume of 475,140 shares, compared to its average volume of 583,335. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $37.31. The company has a market capitalization of $2.85 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.14 and a beta of 1.17. The firm has a 50-day moving average price of $32.64 and a 200-day moving average price of $34.20.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Federated Hermes, Inc. will post 3.6 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

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

Insider Activity

In other news, VP Paul A. Uhlman sold 975 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value of $32,175.00. Following the completion of the sale, the vice president now owns 299,572 shares of the company’s stock, valued at approximately $9,885,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 975 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the completion of the sale, the vice president now owns 299,572 shares of the company’s stock, valued at approximately $9,885,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul A. Uhlman sold 994 shares of the 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 sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,361 shares of company stock valued at $76,360. Corporate insiders own 3.70% of the company’s stock.

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.