Federated Hermes, Inc. $FHI Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 551,969 shares of the company’s stock after selling 2,989 shares during the period. Northern Trust Corp owned approximately 0.70% of Federated Hermes worth $22,504,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after purchasing an additional 614 shares during the period. Quarry LP purchased a new position in Federated Hermes in the fourth quarter valued at $37,000. UMB Bank n.a. boosted its holdings in Federated Hermes by 55.1% in the first quarter. UMB Bank n.a. now owns 2,065 shares of the company’s stock valued at $84,000 after purchasing an additional 734 shares during the period. Lazard Asset Management LLC purchased a new position in Federated Hermes in the fourth quarter valued at $90,000. Finally, Asset Management One Co. Ltd. purchased a new position in Federated Hermes in the first quarter valued at $120,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Down 0.9%

Federated Hermes stock opened at $53.15 on Monday. Federated Hermes, Inc. has a 1-year low of $33.29 and a 1-year high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The stock has a market cap of $4.12 billion, a PE ratio of 11.78, a P/E/G ratio of 0.72 and a beta of 0.84. The stock’s fifty day moving average is $48.97 and its two-hundred day moving average is $43.23.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The company had revenue of $424.84 million for the quarter, compared to analysts’ expectations of $424.83 million. During the same period last year, the firm earned $0.96 earnings per share. Federated Hermes’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes’s payout ratio is presently 30.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Evercore ISI lifted their target price on Federated Hermes from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Royal Bank Of Canada raised their price target on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to a “neutral” rating and raised their price target for the company from $40.00 to $54.00 in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.00.

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.