Mutual of America Capital Management LLC Trims Stake in Federated Hermes, Inc. (NYSE:FHI)

Mutual of America Capital Management LLC cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,102 shares of the company’s stock after selling 1,058 shares during the period. Mutual of America Capital Management LLC’s holdings in Federated Hermes were worth $1,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FHI. Walleye Capital LLC raised its position in shares of Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after purchasing an additional 269 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Federated Hermes by 1.9% in the first quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company’s stock valued at $681,000 after acquiring an additional 317 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Federated Hermes by 9.3% in the first quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock worth $217,000 after acquiring an additional 453 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 worth $424,000 after acquiring an additional 474 shares during the period. Finally, TD Private Client Wealth LLC grew its position in shares of Federated Hermes by 20.3% during the first quarter. TD Private Client Wealth LLC now owns 3,334 shares of the company’s stock worth $136,000 after purchasing an additional 562 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price target on Federated Hermes from $39.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, July 9th. Evercore ISI lifted their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Royal Bank Of Canada increased their target price on Federated Hermes from $43.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Federated Hermes has a consensus rating of “Hold” and a consensus price target of $42.50.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the sale, the vice president directly owned 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Federated Hermes Trading Up 0.6%

Shares of NYSE FHI opened at $47.35 on Monday. Federated Hermes, Inc. has a 1-year low of $31.94 and a 1-year high of $47.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.04 and a quick ratio of 2.35. The business’s 50 day moving average is $43.57 and its two-hundred day moving average is $40.60. The stock has a market capitalization of $3.75 billion, a P/E ratio of 13.34, a PEG ratio of 0.87 and a beta of 0.78.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Thursday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s dividend payout ratio (DPR) is 38.31%.

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.