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

Rhumbline Advisers cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,756 shares of the company’s stock after selling 4,912 shares during the period. Rhumbline Advisers owned about 0.18% of Federated Hermes worth $4,858,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Headlands Technologies LLC lifted its holdings in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Federated Hermes during the second quarter valued at $47,000. CWM LLC boosted its holdings in Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares during the last quarter. UMB Bank n.a. increased its position in Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the period. Finally, Neo Ivy Capital Management raised its holdings in Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after purchasing an additional 1,224 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Federated Hermes Trading Up 1.5 %

FHI opened at $34.78 on Monday. Federated Hermes, Inc. has a twelve month low of $30.23 and a twelve month high of $37.10. The firm has a market cap of $2.93 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.33 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. The firm’s fifty day moving average is $33.88 and its two-hundred day moving average is $33.96.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data 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 return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts anticipate that Federated Hermes, Inc. will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.57%. Federated Hermes’s payout ratio is currently 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.