Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,374 shares of the company’s stock after selling 18,427 shares during the period. Thrivent Financial for Lutherans owned about 0.30% of Federated Hermes worth $8,429,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FHI. GSA Capital Partners LLP grew its stake in Federated Hermes by 123.8% during the 4th quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock valued at $2,364,000 after purchasing an additional 38,630 shares in the last quarter. Norges Bank acquired a new stake in shares of Federated Hermes during the fourth quarter worth approximately $12,474,000. SG Americas Securities LLC increased its stake in shares of Federated Hermes by 267.9% in the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after buying an additional 19,530 shares during the last quarter. Tidal Investments LLC acquired a new stake in Federated Hermes in the first quarter valued at $1,419,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Federated Hermes during the 1st quarter valued at $1,542,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. UBS Group cut their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI decreased their target price on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.67.

Insider Activity

In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is owned by insiders.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $37.11 on Friday. The stock has a market cap of $3.07 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.44 and a beta of 1.16. The firm’s 50-day simple moving average is $34.32 and its 200 day simple moving average is $34.00. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $37.43. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. Federated Hermes’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Equities analysts expect that Federated Hermes, Inc. will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

About Federated Hermes

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.