Rhumbline Advisers Decreases Position in Federated Hermes, Inc. (NYSE:FHI)

Rhumbline Advisers cut its position in Federated Hermes, Inc. (NYSE:FHI) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 272,670 shares of the company’s stock after selling 1,310 shares during the period. Rhumbline Advisers owned approximately 0.31% of Federated Hermes worth $10,945,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Federated Hermes during the first quarter valued at approximately $25,000. Global Retirement Partners LLC raised its holdings in shares of Federated Hermes by 85.7% during the first quarter. Global Retirement Partners LLC now owns 767 shares of the company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. WealthPLAN Partners LLC purchased a new position in shares of Federated Hermes during the first quarter valued at approximately $40,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Federated Hermes during the first quarter valued at approximately $42,000. Finally, CENTRAL TRUST Co raised its holdings in shares of Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock valued at $50,000 after purchasing an additional 1,150 shares during the last quarter. 76.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FHI. StockNews.com initiated coverage on shares of Federated Hermes in a report on Thursday, August 17th. They set a “buy” rating for the company. Jefferies Financial Group cut their target price on shares of Federated Hermes from $41.00 to $38.00 in a research report on Monday, July 10th. JPMorgan Chase & Co. cut their target price on shares of Federated Hermes from $48.00 to $46.00 in a research report on Wednesday, July 12th. Finally, Royal Bank of Canada cut their target price on shares of Federated Hermes from $39.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, August 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus target price of $41.80.

Federated Hermes Stock Performance

FHI opened at $35.35 on Friday. The firm has a market cap of $3.12 billion, a P/E ratio of 11.78, a PEG ratio of 0.75 and a beta of 1.04. Federated Hermes, Inc. has a 1-year low of $30.30 and a 1-year high of $45.55. The company has a 50 day simple moving average of $34.53 and a two-hundred day simple moving average of $37.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 2.20.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $433.23 million during the quarter, compared to analyst estimates of $392.73 million. Federated Hermes had a net margin of 17.05% and a return on equity of 27.30%. Equities analysts forecast that Federated Hermes, Inc. will post 3.29 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were given a $0.28 dividend. The ex-dividend date was Monday, August 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.17%. Federated Hermes’s payout ratio is currently 37.33%.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 43,135 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $36.10, for a total value of $1,557,173.50. Following the transaction, the chief executive officer now owns 193,434 shares of the company’s stock, valued at $6,982,967.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Saker Anwar Nusseibeh sold 43,135 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $36.10, for a total value of $1,557,173.50. Following the transaction, the chief executive officer now owns 193,434 shares of the company’s stock, valued at $6,982,967.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul A. Uhlman sold 1,004 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $38.54, for a total transaction of $38,694.16. Following the completion of the transaction, the vice president now directly owns 368,074 shares in the company, valued at approximately $14,185,571.96. The disclosure for this sale can be found here. Insiders sold a total of 44,213 shares of company stock worth $1,598,322 over the last three months. 5.20% of the stock is currently owned by company insiders.

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.