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

Victory Capital Management Inc. cut its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 76.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,176 shares of the company's stock after selling 121,255 shares during the period. Victory Capital Management Inc.'s holdings in Federated Hermes were worth $1,556,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Meritage Portfolio Management increased its stake in shares of Federated Hermes by 100.7% in the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock worth $936,000 after purchasing an additional 11,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Federated Hermes during the first quarter valued at $2,584,000. Ritholtz Wealth Management bought a new position in Federated Hermes during the first quarter valued at $1,283,000. New Age Alpha Advisors LLC bought a new position in Federated Hermes during the fourth quarter valued at $461,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Federated Hermes during the fourth quarter valued at $585,000. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded down $0.32 during trading hours on Friday, reaching $49.25. 1,563,862 shares of the company's stock were exchanged, compared to its average volume of 835,962. Federated Hermes, Inc. has a 1 year low of $31.94 and a 1 year high of $50.09. The company has a market capitalization of $3.90 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.78. The business has a fifty day moving average of $44.67 and a two-hundred day moving average of $41.17. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last released its 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. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The business had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.8%. Federated Hermes's payout ratio is presently 38.31%.

Analyst Ratings Changes

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

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 dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company's stock.

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.