Federated Hermes, Inc. (NYSE:FHI) Stake Lowered by Ledyard National Bank

Ledyard National Bank cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 92.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,722 shares of the company’s stock after selling 75,099 shares during the quarter. Ledyard National Bank’s holdings in Federated Hermes were worth $210,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares during the period. GAMMA Investing LLC boosted its position in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares during the period. Mather Group LLC. acquired a new position in shares of Federated Hermes during the second quarter worth approximately $47,000. CWM LLC boosted its position in shares of Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after buying an additional 1,311 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares during the period. 75.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $38.19 on Wednesday. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $39.03. The stock has a fifty day moving average of $35.53 and a 200-day moving average of $34.15. The company has a market capitalization of $3.21 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Federated Hermes, Inc. will post 3.63 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI upped their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. TD Cowen cut their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

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.