Foundation Resource Management Inc. Sells 13,899 Shares of Federated Hermes, Inc. (NYSE:FHI)

Foundation Resource Management Inc. lessened its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 401,678 shares of the company's stock after selling 13,899 shares during the period. Federated Hermes comprises about 2.6% of Foundation Resource Management Inc.'s portfolio, making the stock its 14th biggest position. Foundation Resource Management Inc. owned 0.49% of Federated Hermes worth $16,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP bought a new stake in Federated Hermes in the fourth quarter valued at approximately $37,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Federated Hermes in the 4th quarter valued at $73,000. UMB Bank n.a. boosted its stake in shares of Federated Hermes by 55.1% in 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 acquired a new stake in shares of Federated Hermes during the fourth quarter worth $90,000. Finally, Jones Financial Companies Lllp raised its stake in Federated Hermes by 112.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock worth $109,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the company'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 sale, the vice president now owns 316,930 shares in the company, valued at $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on FHI shares. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Evercore ISI raised their target price on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Royal Bank of Canada increased their price target on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.33.

Federated Hermes Stock Up 1.1%

Shares of FHI stock traded up $0.45 on Thursday, reaching $42.81. 1,528,221 shares of the company were exchanged, compared to its average volume of 736,511. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a 50-day moving average of $40.56 and a 200-day moving average of $40.15. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.00 and a beta of 0.78. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. During the same quarter in the previous year, the business posted $0.89 EPS. Federated Hermes's quarterly revenue was up 6.8% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. Federated Hermes's dividend payout ratio is 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.