First Trust Advisors LP Sells 51,927 Shares of Federated Hermes, Inc. (NYSE:FHI)

First Trust Advisors LP decreased its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,833 shares of the company's stock after selling 51,927 shares during the period. First Trust Advisors LP owned 0.31% of Federated Hermes worth $10,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FHI. Bank of New York Mellon Corp raised its holdings in Federated Hermes by 53.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after acquiring an additional 446,683 shares during the period. LSV Asset Management lifted its holdings in Federated Hermes by 48.2% during the 4th quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after purchasing an additional 283,300 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Federated Hermes by 51.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after purchasing an additional 278,524 shares during the period. Norges Bank purchased a new position in Federated Hermes during the 4th quarter valued at about $10,639,000. Finally, FMR LLC increased its position in shares of Federated Hermes by 4.5% during the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after buying an additional 253,553 shares during the period. Institutional investors own 75.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FHI shares. StockNews.com upgraded 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 cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a report on Tuesday, January 28th. UBS Group upped their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and a consensus price target of $41.67.

Federated Hermes Price Performance

Shares of NYSE FHI traded up $0.97 during mid-day trading on Friday, reaching $41.74. 705,290 shares of the company were exchanged, compared to its average volume of 731,112. The stock has a market capitalization of $3.30 billion, a PE ratio of 13.08, a PEG ratio of 1.00 and a beta of 0.77. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The company's 50 day moving average price is $38.86 and its 200 day moving average price is $39.78.

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 the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 3.26%. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is currently 38.31%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.80% of the company's stock.

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.