Commonwealth Equity Services LLC Lowers Stake in Federated Hermes, Inc. (NYSE:FHI)

Key Points

• Commonwealth Equity Services LLC reduced its stake in Federated Hermes, Inc. by 4.4% in the first quarter, owning 507,770 shares worth approximately $20.7 million after selling 23,479 shares.
• Several hedge funds increased their positions in Federated Hermes during the fourth quarter, with LSV Asset Management raising its stake by 48.2% and Renaissance Technologies increasing its stake by 54.2%.
• Federated Hermes recently announced a quarterly dividend of $0.34 per share, which will be paid on August 15th, representing an annualized yield of 2.6%.

Commonwealth Equity Services LLC lowered its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 507,770 shares of the company's stock after selling 23,479 shares during the period. Commonwealth Equity Services LLC owned about 0.64% of Federated Hermes worth $20,702,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew 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 purchasing an additional 614 shares during the last quarter. Quarry LP bought a new position in shares of Federated Hermes during the 4th quarter valued at $37,000. UMB Bank n.a. grew 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 valued at $84,000 after purchasing an additional 734 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Federated Hermes in the 4th quarter worth $90,000. Finally, Asset Management One Co. Ltd. bought a new stake in Federated Hermes in the 1st quarter worth $120,000. Institutional investors own 75.94% of the company's stock.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FHI. Evercore ISI raised their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday. Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada raised their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, July 10th. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $40.00 to $54.00 in a report on Monday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.00.

Federated Hermes Trading Down 1.2%

Shares of FHI traded down $0.59 during trading hours on Thursday, reaching $50.86. 687,308 shares of the company traded hands, compared to its average volume of 702,498. The company's fifty day moving average price is $45.53 and its two-hundred day moving average price is $41.61. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.73 and a beta of 0.77. The company has a quick ratio of 2.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $52.24.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its 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. The firm had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Equities research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 8th. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

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.