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 lessened its position 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 & Exchange Commission. The institutional investor 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.

Several other large investors have also recently modified their holdings of FHI. Farther Finance Advisors LLC increased its stake in Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after purchasing an additional 614 shares in the last quarter. Quarry LP acquired a new stake in shares of Federated Hermes in the fourth quarter worth $37,000. UMB Bank n.a. increased its stake in shares of Federated Hermes by 55.1% in the first quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after acquiring an additional 734 shares during the period. Lazard Asset Management LLC purchased a new stake in Federated Hermes during the fourth quarter worth $90,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Federated Hermes during the first quarter worth $120,000. Institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FHI shares. Evercore ISI increased their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and increased their target price for the company from $40.00 to $54.00 in a research report on Monday. Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 10th. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $46.00.

Federated Hermes Stock Up 3.5%

Federated Hermes stock traded up $1.75 during trading on Monday, reaching $50.98. The stock had a trading volume of 361,881 shares, compared to its average volume of 832,500. Federated Hermes, Inc. has a 52-week low of $31.94 and a 52-week high of $51.15. The business has a 50 day moving average price of $44.81 and a 200 day moving average price of $41.29. The company has a quick ratio of 2.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.03 billion, a PE ratio of 11.26, a P/E/G ratio of 0.91 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

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. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 8th. Federated Hermes's payout ratio is currently 30.16%.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares in the company, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company's stock.

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.