Federated Hermes, Inc. $FHI Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its Federated Hermes stake by 6.1% in Q4, selling 26,401 shares and leaving it with 403,839 shares valued at about $21.0 million.
• Analyst sentiment has turned more cautious: several firms lowered price targets, and the stock now carries an average Hold rating with a $54.00 price target.
• Federated Hermes reported better-than-expected quarterly results, with EPS of $1.27 and revenue of $478.96 million, and it also raised its quarterly dividend to $0.38 per share from $0.34.

HighTower Advisors LLC lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,839 shares of the company's stock after selling 26,401 shares during the quarter. HighTower Advisors LLC owned about 0.52% of Federated Hermes worth $21,028,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC acquired a new position in shares of Federated Hermes during the fourth quarter valued at about $25,000. MAI Capital Management increased its holdings in shares of Federated Hermes by 86.7% during the third quarter. MAI Capital Management now owns 476 shares of the company's stock valued at $25,000 after acquiring an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Federated Hermes in the 2nd quarter worth approximately $56,000. Aster Capital Management DIFC Ltd acquired a new position in Federated Hermes in the 3rd quarter worth approximately $75,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company's stock worth $69,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FHI shares. Royal Bank Of Canada cut their price target on shares of Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Federated Hermes from $56.00 to $53.00 and set an "underweight" rating on the stock in a report on Monday, May 4th. Argus upgraded shares of Federated Hermes to a "hold" rating in a report on Monday, February 2nd. Finally, TD Cowen cut their price target on shares of Federated Hermes from $58.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Federated Hermes has an average rating of "Hold" and an average price target of $54.00.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 72,392 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president owned 263,987 shares of the company's stock, valued at $14,843,989.01. This trade represents a 21.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bryan M. Burke sold 4,000 shares of the firm'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 transaction of $216,800.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by company insiders.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $54.77 on Friday. Federated Hermes, Inc. has a twelve month low of $41.55 and a twelve month high of $59.05. The company's 50 day moving average is $56.29 and its 200 day moving average is $53.93. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.16 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.07. The business had revenue of $478.96 million for the quarter, compared to analysts' expectations of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. On average, sell-side analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Federated Hermes's previous quarterly dividend of $0.34. Federated Hermes's dividend payout ratio is 29.46%.

Federated Hermes Company 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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