Alliancebernstein L.P. Has $38.91 Million Position in Federated Hermes, Inc. $FHI

Key Points

• Alliancebernstein L.P. reduced its holdings in Federated Hermes, Inc. by 2.6% during the first quarter, currently owning approximately $38.9 million in shares after selling over 25,000 shares.
• Federated Hermes recently declared a $0.34 quarterly dividend with a yield of 2.6%, reflecting a payout ratio of 30.16%.
• The company reported $1.16 earnings per share (EPS) for the last quarter, surpassing estimates and showing a 5.5% increase in revenue compared to the previous year.

Alliancebernstein L.P. decreased its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954,351 shares of the company's stock after selling 25,019 shares during the quarter. Alliancebernstein L.P. owned approximately 1.21% of Federated Hermes worth $38,909,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hohimer Wealth Management LLC boosted its stake in Federated Hermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock valued at $277,000 after buying an additional 249 shares in the last quarter. CW Advisors LLC boosted its stake in Federated Hermes by 3.8% in the 1st quarter. CW Advisors LLC now owns 7,168 shares of the company's stock valued at $292,000 after buying an additional 261 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Federated Hermes by 2.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,900 shares of the company's stock valued at $485,000 after buying an additional 286 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock valued at $63,000 after buying an additional 287 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Federated Hermes by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 92,400 shares of the company's stock valued at $3,767,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Trading Down 0.8%

Shares of FHI stock traded down $0.42 on Friday, reaching $53.68. 338,257 shares of the stock were exchanged, compared to its average volume of 495,845. The stock has a market cap of $4.16 billion, a PE ratio of 11.90, a P/E/G ratio of 0.74 and a beta of 0.84. Federated Hermes, Inc. has a one year low of $34.44 and a one year high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The stock has a 50 day moving average price of $50.70 and a 200 day moving average price of $44.22.

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

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes's payout ratio is presently 30.16%.

Analysts Set New Price Targets

A number of equities analysts have commented on FHI shares. JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $40.00 to $54.00 in a research note on Monday, August 4th. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Evercore ISI boosted their price objective on Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada boosted their price objective on Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Federated Hermes has an average rating of "Hold" and an average target price of $48.17.

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.