New Age Alpha Advisors LLC Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Federated Hermes by 60.9%, now owning 4,388 shares valued at $179,000 as reported in their latest SEC filing.
• Several hedge funds have increased their stakes in Federated Hermes, with Farther Finance Advisors LLC boosting their position by 246.6% in the first quarter.
• Analysts have raised the price targets for Federated Hermes, with JPMorgan increasing theirs from $40.00 to $54.00 and maintaining a "neutral" rating for the stock.

New Age Alpha Advisors LLC lessened its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 60.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,388 shares of the company's stock after selling 6,829 shares during the quarter. New Age Alpha Advisors LLC's holdings in Federated Hermes were worth $179,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. LPL Financial LLC increased its holdings in shares of Federated Hermes by 24.5% during the fourth quarter. LPL Financial LLC now owns 19,301 shares of the company's stock worth $793,000 after buying an additional 3,792 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Federated Hermes by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 268,221 shares of the company's stock worth $11,027,000 after buying an additional 16,399 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Federated Hermes during the fourth quarter worth $957,000. Geode Capital Management LLC increased its holdings in shares of Federated Hermes by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after buying an additional 32,070 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Federated Hermes by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,220 shares of the company's stock worth $872,000 after buying an additional 2,833 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Insiders Place Their Bets

In other Federated Hermes 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 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 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 Stock Up 0.6%

NYSE FHI traded up $0.31 during trading hours on Thursday, hitting $53.96. The company's stock had a trading volume of 669,346 shares, compared to its average volume of 831,814. Federated Hermes, Inc. has a 52 week low of $32.93 and a 52 week high of $54.16. The company has a market capitalization of $4.18 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.77. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The company's 50-day simple moving average is $46.32 and its two-hundred day simple moving average is $41.99.

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

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, August 8th. Federated Hermes's payout ratio is currently 30.16%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI boosted their price objective on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. raised shares of Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price target for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Royal Bank Of Canada set a $51.00 price objective on shares of Federated Hermes and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes has an average rating of "Hold" and a consensus price target of $47.00.

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.