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

Millennium Management LLC lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 50.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 525,383 shares of the company's stock after selling 539,900 shares during the period. Millennium Management LLC owned about 0.64% of Federated Hermes worth $21,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FHI. Barclays PLC raised its stake in shares of Federated Hermes by 228.6% during the third quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after acquiring an additional 150,017 shares in the last quarter. MBM Wealth Consultants LLC raised its stake in shares of Federated Hermes by 6.8% during the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company's stock valued at $306,000 after acquiring an additional 474 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $829,000. Sound Income Strategies LLC bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of Federated Hermes by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company's stock valued at $914,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Finally, Royal Bank of Canada upped their target price 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $42.33.

Federated Hermes Stock Down 1.1%

Shares of FHI stock traded down $0.45 during trading hours on Monday, reaching $42.11. 629,026 shares of the company's stock were exchanged, compared to its average volume of 733,859. The stock's 50 day moving average is $40.10 and its 200-day moving average is $40.09. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.00 and a beta of 0.77. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. The business had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. Analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.34 per share. 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 dividend on an annualized basis and a dividend yield of 3.23%. Federated Hermes's dividend payout ratio is presently 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.