Bank of New York Mellon Corp Has $41 Million Position in Federated Hermes, Inc. (NYSE:FHI)

Bank of New York Mellon Corp decreased its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 21.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,005,629 shares of the company's stock after selling 271,269 shares during the period. Bank of New York Mellon Corp owned approximately 1.24% of Federated Hermes worth $40,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 614 shares during the period. Quarry LP bought a new stake in shares of Federated Hermes in the fourth quarter valued at about $37,000. C M Bidwell & Associates Ltd. bought a new position in shares of Federated Hermes during the 4th quarter worth about $73,000. UMB Bank n.a. lifted its holdings in shares of Federated Hermes by 55.1% during the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after acquiring an additional 734 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Federated Hermes during the 4th quarter worth about $90,000. 75.94% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the transaction, the vice president owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

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

Federated Hermes Stock Up 1.4%

Shares of FHI traded up $0.62 on Wednesday, hitting $45.95. The company's stock had a trading volume of 180,468 shares, compared to its average volume of 733,108. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. The firm's fifty day moving average price is $43.31 and its 200-day moving average price is $40.48. Federated Hermes, Inc. has a fifty-two week low of $31.94 and a fifty-two week high of $46.84. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.86 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last issued 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. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.96%. Federated Hermes's dividend payout ratio (DPR) is presently 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.