Renaissance Technologies LLC Has $8.47 Million Holdings in Federated Hermes, Inc. (NYSE:FHI)

Renaissance Technologies LLC cut its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 14.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 257,700 shares of the company’s stock after selling 43,900 shares during the period. Renaissance Technologies LLC’s holdings in Federated Hermes were worth $8,473,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC lifted its position in shares of Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Federated Hermes in the second quarter worth $47,000. CWM LLC grew its holdings in shares of Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after buying an additional 1,311 shares in the last quarter. UMB Bank n.a. raised its position in Federated Hermes by 26.0% during the second 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 period. Finally, Neo Ivy Capital Management lifted its stake in Federated Hermes by 637.5% in the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after acquiring an additional 1,224 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI opened at $37.30 on Wednesday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The company’s fifty day moving average is $34.22 and its 200-day moving average is $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. Federated Hermes, Inc. has a 12 month low of $30.23 and a 12 month high of $37.43.

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

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FHI shares. UBS Group lowered their target price 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. StockNews.com lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Evercore ISI lowered their price target on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. TD Cowen cut their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.67.

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.