Alliancebernstein L.P. Sells 221,725 Shares of Federated Hermes, Inc. (NYSE:FHI)

Alliancebernstein L.P. decreased its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 979,370 shares of the company's stock after selling 221,725 shares during the quarter. Alliancebernstein L.P. owned 1.20% of Federated Hermes worth $40,262,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Amalgamated Bank grew its position in shares of Federated Hermes by 1.0% during the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company's stock worth $1,341,000 after buying an additional 313 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company's stock worth $612,000 after purchasing an additional 340 shares during the last quarter. MBM Wealth Consultants LLC lifted its stake in Federated Hermes by 6.8% during the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company's stock worth $306,000 after purchasing an additional 474 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Federated Hermes by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company's stock worth $914,000 after purchasing an additional 560 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after purchasing an additional 646 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Stock Down 2.4 %

NYSE:FHI traded down $0.91 on Thursday, hitting $36.85. 89,223 shares of the company's stock traded hands, compared to its average volume of 733,870. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The firm has a 50-day moving average price of $38.84 and a 200-day moving average price of $39.55. The company has a market cap of $3.00 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Equities analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.37%. Federated Hermes's payout ratio is 38.87%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI set a $44.00 price objective on Federated Hermes in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Finally, UBS Group boosted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.17.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company's stock.

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.