Cim Investment Management Inc. Trims Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Cim Investment Management Inc. cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 19.2% in the second quarter, HoldingsChannel reports. The firm owned 7,142 shares of the company’s stock after selling 1,697 shares during the period. Cim Investment Management Inc.’s holdings in Federated Hermes were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings 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 buying an additional 711 shares during the period. Mather Group LLC. acquired a new position in Federated Hermes during the second quarter worth $47,000. CWM LLC lifted its holdings in 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 purchasing an additional 1,311 shares in the last quarter. UMB Bank n.a. grew its position in shares of Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares during the period. Finally, Neo Ivy Capital Management boosted its holdings 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 buying an additional 1,224 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. TD Cowen dropped their price target 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. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. UBS Group dropped their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI dropped their price target on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. 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 data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and an average price target of $37.67.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now owns 442,570 shares of the company’s stock, 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 Stock Down 0.2 %

FHI opened at $36.99 on Friday. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $37.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The stock has a market capitalization of $3.11 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The business’s 50-day simple moving average is $34.41 and its 200-day simple moving average is $34.02.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $400.35 million. During the same quarter in the prior year, the business earned $0.81 EPS. Federated Hermes’s quarterly revenue was down 7.1% compared to the same quarter last year. Analysts anticipate that Federated Hermes, Inc. will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

About Federated Hermes

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.