HighTower Advisors LLC decreased its position in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 403,839 shares of the company’s stock after selling 26,401 shares during the period. HighTower Advisors LLC’s holdings in Federated Hermes were worth $21,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MAI Capital Management increased its holdings in Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after acquiring an additional 221 shares in the last quarter. Torren Management LLC purchased a new stake in Federated Hermes in the 4th quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Federated Hermes in the 2nd quarter worth $56,000. EverSource Wealth Advisors LLC increased its holdings in Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after acquiring an additional 679 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Federated Hermes in the 3rd quarter worth $75,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Insider Buying and Selling at Federated Hermes
In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the sale, the vice president owned 74,921 shares of the company’s stock, valued at $4,060,718.20. The trade was a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul A. Uhlman sold 72,392 shares of Federated Hermes stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president directly owned 263,987 shares in the company, valued at approximately $14,843,989.01. This trade represents a 21.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.
Federated Hermes Trading Up 1.7%
Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The company had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter in the previous year, the company posted $1.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts forecast that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.
Federated Hermes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.8%. Federated Hermes’s dividend payout ratio is presently 29.46%.
Analyst Ratings Changes
Several brokerages recently commented on FHI. JPMorgan Chase & Co. cut their price target on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Wall Street Zen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen cut their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Argus raised shares of Federated Hermes to a “hold” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target of $54.00.
View Our Latest Report on Federated Hermes
Federated Hermes Profile
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.
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