Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Vident Advisory LLC

Vident Advisory LLC cut its stake in Federated Hermes, Inc. (NYSE:FHI) by 16.4% in the fourth quarter, Holdings Channel reports. The fund owned 26,635 shares of the company’s stock after selling 5,223 shares during the period. Vident Advisory LLC’s holdings in Federated Hermes were worth $1,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in shares of Federated Hermes by 4.5% during the 4th quarter. FMR LLC now owns 5,919,888 shares of the company’s stock worth $243,367,000 after purchasing an additional 253,553 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Federated Hermes by 3.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company’s stock worth $77,626,000 after purchasing an additional 63,664 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock worth $52,731,000 after purchasing an additional 32,070 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Federated Hermes by 53.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FHI has been the subject of a number of recent analyst reports. TD Cowen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank of Canada raised their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Evercore ISI raised their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Finally, UBS Group raised their price objective on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.33.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $42.11 on Friday. The business has a 50-day moving average of $40.05 and a 200 day moving average of $40.11. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth 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 announced its earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. During the same period last year, the business posted $0.89 EPS. Federated Hermes’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, May 8th. Federated Hermes’s dividend payout ratio (DPR) is 38.31%.

Federated Hermes 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.