Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Sound View Wealth Advisors Group LLC

Key Points

• Sound View Wealth Advisors Group LLC has reduced its stake in Federated Hermes by 30.1%, selling 5,498 shares, and now owns 12,743 shares valued at $520,000.
• Several institutional investors have increased their positions in Federated Hermes, with LSV Asset Management raising its stake by 48.2% during the last quarter to own 870,776 shares.
• Wall Street analysts have mixed ratings on Federated Hermes, with a current consensus of "Hold" and a target price averaging $42.50.

Sound View Wealth Advisors Group LLC trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,743 shares of the company's stock after selling 5,498 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Federated Hermes were worth $520,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares in the last quarter. Quarry LP purchased a new stake in Federated Hermes in the 4th quarter valued at $37,000. UMB Bank n.a. grew its holdings in 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 buying an additional 734 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Federated Hermes in the 4th quarter valued at $90,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Federated Hermes in the 1st quarter valued at $120,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FHI. Evercore ISI upped 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. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada increased their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $42.50.

Federated Hermes Trading Down 0.6%

FHI traded down $0.32 during mid-day trading on Friday, hitting $49.25. 1,563,862 shares of the stock were exchanged, compared to its average volume of 559,517. The firm's fifty day moving average is $44.81 and its two-hundred day moving average is $41.25. Federated Hermes, Inc. has a 1-year low of $31.94 and a 1-year high of $50.09. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.90 billion, a PE ratio of 10.92, a PEG ratio of 0.91 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.51% and a net margin of 21.67%. The company had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. During the same quarter last year, the company earned $0.96 EPS. Federated Hermes's revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. Federated Hermes's payout ratio is currently 38.31%.

Federated Hermes 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.