Bank of New York Mellon Corp Reduces Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

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

Other large investors have also recently bought and sold shares of the company. Walleye Capital LLC lifted its position in Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock worth $283,000 after acquiring an additional 269 shares in the last quarter. Blue Trust Inc. raised its position in Federated Hermes by 9.3% during the first quarter. Blue Trust Inc. now owns 5,314 shares of the company's stock valued at $217,000 after buying an additional 453 shares during the period. Tower Research Capital LLC TRC increased its position in Federated Hermes by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company's stock worth $424,000 after purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after acquiring an additional 614 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Federated Hermes by 7.7% during the 1st quarter. Diversified Trust Co now owns 8,807 shares of the company's stock valued at $359,000 after acquiring an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. Evercore ISI boosted their price target on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Wednesday, July 9th. Finally, TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One 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 company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $42.50.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the sale, the vice president owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Trading Up 0.5%

Federated Hermes stock traded up $0.23 during trading hours on Friday, hitting $47.29. The company had a trading volume of 244,541 shares, compared to its average volume of 732,984. The firm has a market cap of $3.74 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. Federated Hermes, Inc. has a 1 year low of $31.94 and a 1 year high of $47.51. The company has a 50-day moving average price of $43.48 and a two-hundred day moving average price of $40.56.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, May 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's payout ratio is currently 38.31%.

Federated Hermes Company 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.