Bank of New York Mellon Corp Purchases 446,683 Shares of Federated Hermes, Inc. (NYSE:FHI)

Bank of New York Mellon Corp grew its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 53.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,276,898 shares of the company's stock after purchasing an additional 446,683 shares during the period. Bank of New York Mellon Corp owned about 1.56% of Federated Hermes worth $52,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in Federated Hermes by 3.1% in the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company's stock worth $336,000 after purchasing an additional 275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 acquiring an additional 340 shares during the period. MBM Wealth Consultants LLC raised its holdings in shares of 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 acquiring an additional 474 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of 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 acquiring an additional 560 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 646 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FHI shares. StockNews.com upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a report on Tuesday, January 28th. Finally, UBS Group lifted their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and an average price target of $42.17.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value 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 approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company's stock.

Federated Hermes Stock Performance

Federated Hermes stock traded down $0.13 during midday trading on Friday, hitting $38.84. The company's stock had a trading volume of 1,066,442 shares, compared to its average volume of 732,912. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a 50-day moving average price of $38.91 and a two-hundred day moving average price of $38.79. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes's payout ratio is presently 38.87%.

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.