Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC decreased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 64.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,820 shares of the company's stock after selling 28,234 shares during the quarter. Legato Capital Management LLC's holdings in Federated Hermes were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FHI. Meritage Portfolio Management boosted its holdings in Federated Hermes by 100.7% during the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock valued at $936,000 after acquiring an additional 11,523 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federated Hermes in the first quarter valued at about $2,584,000. Ritholtz Wealth Management purchased a new stake in Federated Hermes in the first quarter valued at about $1,283,000. New Age Alpha Advisors LLC purchased a new position in shares of Federated Hermes in the fourth quarter worth about $461,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Federated Hermes during the fourth quarter worth about $585,000. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen raised Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Royal Bank Of Canada boosted their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Finally, Evercore ISI boosted their target price on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $42.50.

Insider Activity at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction on Tuesday, May 27th. The stock was 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 approximately $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.

Federated Hermes Stock Performance

Federated Hermes stock traded up $0.43 during mid-day trading on Friday, reaching $49.27. 639,559 shares of the company were exchanged, compared to its average volume of 478,863. The firm has a market cap of $3.90 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. The firm's 50-day simple moving average is $44.13 and its two-hundred day simple moving average is $40.88. Federated Hermes, Inc. has a twelve month low of $31.94 and a twelve month high of $49.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. Equities analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

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.