Bank of New York Mellon Corp Has $37.11 Million Stock Position in Federated Hermes, Inc. $FHI

Bank of New York Mellon Corp lowered its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 654,378 shares of the company's stock after selling 24,825 shares during the quarter. Bank of New York Mellon Corp owned about 0.86% of Federated Hermes worth $37,110,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FHI. Torren Management LLC acquired a new position in Federated Hermes in the 4th quarter worth $25,000. Root Financial Partners LLC raised its stake in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company's stock valued at $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company's stock valued at $38,000 after purchasing an additional 401 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company's stock valued at $44,000 after purchasing an additional 503 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Federated Hermes by 220.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock worth $45,000 after buying an additional 594 shares during the period. Institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FHI. Evercore reiterated an "outperform" rating and set a $59.00 price objective on shares of Federated Hermes in a report on Monday, June 8th. JPMorgan Chase & Co. reduced their price target on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating for the company in a research report on Monday, May 4th. TD Cowen decreased their price target on shares of Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Monday, May 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Federated Hermes in a report on Friday, July 17th. Finally, Wall Street Zen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $55.75.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the transaction, the chief executive officer directly owned 151,276 shares of the company's stock, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bryan M. Burke sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by corporate insiders.

Federated Hermes Price Performance

NYSE:FHI opened at $57.83 on Friday. The stock has a market capitalization of $4.39 billion, a PE ratio of 11.21, a P/E/G ratio of 1.56 and a beta of 0.65. Federated Hermes, Inc. has a 1-year low of $46.66 and a 1-year high of $60.77. The firm has a fifty day simple moving average of $57.18 and a 200 day simple moving average of $56.01. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The firm had revenue of $478.96 million during the quarter, compared to analysts' expectations of $475.22 million. During the same quarter last year, the company posted $1.25 earnings per share. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts expect that Federated Hermes, Inc. will post 5.24 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.38 dividend. This is a positive change from Federated Hermes's previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, May 8th. Federated Hermes's dividend payout ratio is currently 29.46%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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