Rhumbline Advisers Sells 4,912 Shares of Federated Hermes, Inc. (NYSE:FHI)

Rhumbline Advisers lowered its holdings in Federated Hermes, Inc. (NYSE:FHI) by 3.2% in the second quarter, Holdings Channel reports. The firm owned 147,756 shares of the company’s stock after selling 4,912 shares during the quarter. Rhumbline Advisers’ holdings in Federated Hermes were worth $4,858,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FHI. Headlands Technologies LLC increased its position in shares of Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Federated Hermes during the 2nd quarter worth approximately $47,000. CWM LLC raised its stake in shares of Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares during the last quarter. Finally, Neo Ivy Capital Management grew its stake in shares of Federated Hermes by 637.5% in the fourth quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after buying an additional 1,224 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FHI. TD Cowen cut their price target on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Evercore ISI reduced their price target on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. UBS Group dropped their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.67.

Federated Hermes Trading Up 1.5 %

Shares of NYSE:FHI opened at $34.78 on Monday. Federated Hermes, Inc. has a 12-month low of $30.23 and a 12-month high of $37.10. The business has a 50 day moving average of $33.88 and a 200-day moving average of $33.96. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.93 billion, a PE ratio of 9.88, a P/E/G ratio of 1.33 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is presently 35.23%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

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.