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

Rhumbline Advisers lessened its holdings in Federated Hermes, Inc. (NYSE:FHI) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,162 shares of the company’s stock after selling 1,125 shares during the period. Rhumbline Advisers owned 0.17% of Federated Hermes worth $5,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Walleye Capital LLC raised its position in shares of Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after buying an additional 269 shares during the last quarter. Amalgamated Bank raised its position in shares of Federated Hermes by 1.0% in the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after buying an additional 313 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Federated Hermes by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after buying an additional 474 shares during the last quarter. Cadence Bank raised its position in shares of Federated Hermes by 0.6% in the fourth quarter. Cadence Bank now owns 123,058 shares of the company’s stock valued at $5,059,000 after buying an additional 730 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Federated Hermes in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI stock opened at $42.81 on Friday. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The company has a 50 day moving average price of $40.69 and a 200 day moving average price of $40.15. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The company had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s dividend payout ratio is presently 38.31%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president now directly owns 316,930 shares in the company, valued at $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

FHI has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Evercore ISI boosted their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. TD Cowen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and an average target price of $42.33.

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.