American Century Companies Inc. Sells 64,937 Shares of Federated Hermes, Inc. $FHI

American Century Companies Inc. trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 66.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,632 shares of the company's stock after selling 64,937 shares during the period. American Century Companies Inc.'s holdings in Federated Hermes were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Meritage Portfolio Management increased its holdings in Federated Hermes by 100.7% during the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock worth $936,000 after buying an additional 11,523 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Federated Hermes by 38.5% in the first quarter. Deutsche Bank AG now owns 24,213 shares of the company's stock valued at $987,000 after purchasing an additional 6,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Federated Hermes in the first quarter valued at $2,584,000. Ritholtz Wealth Management acquired a new position in shares of Federated Hermes in the first quarter valued at $1,283,000. Finally, LPL Financial LLC increased its holdings in shares of Federated Hermes by 373.9% in the first quarter. LPL Financial LLC now owns 91,474 shares of the company's stock valued at $3,729,000 after purchasing an additional 72,173 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

Shares of FHI stock traded down $0.79 on Friday, hitting $52.76. The company's stock had a trading volume of 480,451 shares, compared to its average volume of 570,999. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The stock's 50 day moving average is $49.90 and its 200-day moving average is $43.66. Federated Hermes, Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $54.42. The company has a market capitalization of $4.09 billion, a PE ratio of 11.70, a PEG ratio of 0.73 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same period in the prior year, the company posted $0.96 earnings per share. Federated Hermes's revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.6%. Federated Hermes's dividend payout ratio is currently 30.16%.

Analysts Set New Price Targets

Several equities analysts have commented on FHI shares. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $40.00 to $54.00 in a report on Monday, August 4th. Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. Evercore ISI upped their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Friday. Finally, TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of "Hold" and an average price target of $48.17.

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.