Aviva PLC Lowers Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Aviva PLC cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 41.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,987 shares of the company’s stock after selling 19,196 shares during the period. Aviva PLC’s holdings in Federated Hermes were worth $980,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Federated Hermes by 3.7% during the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after purchasing an additional 466,504 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Federated Hermes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock worth $314,407,000 after acquiring an additional 73,168 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Federated Hermes by 39.2% in the fourth quarter. Schneider Downs Wealth Management Advisors LP now owns 4,504,318 shares of the company’s stock valued at $163,552,000 after acquiring an additional 1,269,097 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Federated Hermes by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,270,015 shares of the company’s stock worth $75,182,000 after acquiring an additional 15,260 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,190,575 shares of the company’s stock worth $74,611,000 after purchasing an additional 126,825 shares in the last quarter. 78.82% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Trading Down 0.5 %

Shares of FHI stock opened at $36.51 on Friday. The stock has a market cap of $3.27 billion, a P/E ratio of 12.90 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.31. Federated Hermes, Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $45.55. The business has a fifty day simple moving average of $40.21 and a 200-day simple moving average of $38.67.

Federated Hermes (NYSE:FHI – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Federated Hermes had a net margin of 16.85% and a return on equity of 27.83%. The firm had revenue of $382.20 million for the quarter, compared to analysts’ expectations of $390.85 million. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. On average, analysts forecast that Federated Hermes, Inc. will post 3.29 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were given a dividend of $0.28 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, May 5th. Federated Hermes’s payout ratio is currently 39.58%.

Analyst Ratings Changes

Several equities analysts have issued reports on FHI shares. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $47.00 in a research report on Tuesday, April 11th. Evercore ISI increased their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, April 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Federated Hermes from $44.00 to $45.00 in a research report on Monday, May 1st. Finally, StockNews.com began coverage on shares of Federated Hermes in a report on Thursday. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and a consensus target price of $42.40.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 20,000 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $37.48, for a total value of $749,600.00. Following the completion of the transaction, the chief executive officer now directly owns 236,569 shares of the company’s stock, valued at $8,866,606.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Saker Anwar Nusseibeh sold 20,000 shares of Federated Hermes stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $37.48, for a total transaction of $749,600.00. Following the completion of the sale, the chief executive officer now owns 236,569 shares in the company, valued at approximately $8,866,606.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Meter Stephen Van sold 4,480 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $39.39, for a total transaction of $176,467.20. Following the completion of the transaction, the vice president now directly owns 34,388 shares of the company’s stock, valued at approximately $1,354,543.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,897 shares of company stock valued at $1,373,128. 5.20% of the stock is owned by corporate insiders.

About Federated Hermes

(Get Rating)

Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.