JPMorgan Chase & Co. Sells 23,962 Shares of Federated Hermes, Inc. (NYSE:FHI)

JPMorgan Chase & Co. trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 8.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,822 shares of the company's stock after selling 23,962 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Federated Hermes worth $9,259,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company's stock worth $39,000 after acquiring an additional 349 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Federated Hermes in the 3rd quarter valued at $60,000. Headlands Technologies LLC grew its stake in Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company's stock valued at $64,000 after buying an additional 1,117 shares during the last quarter. CWM LLC raised its holdings in Federated Hermes by 74.7% in the 3rd quarter. CWM LLC now owns 2,523 shares of the company's stock worth $93,000 after acquiring an additional 1,079 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Federated Hermes by 23.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company's stock worth $111,000 after acquiring an additional 643 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

Federated Hermes stock traded up $0.23 on Tuesday, hitting $38.14. The company's stock had a trading volume of 726,740 shares, compared to its average volume of 684,880. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The firm has a market cap of $3.12 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $41.51 and a 200-day moving average price of $37.49.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same period in the prior year, the company posted $0.86 EPS. The company's revenue was up 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.25%. Federated Hermes's dividend payout ratio is 39.87%.

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now directly owns 53,837 shares of the company's stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FHI shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 26th. TD Cowen raised Federated Hermes from a "hold" rating to a "buy" rating and increased their price objective for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Evercore ISI boosted their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $42.00 price target (down from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $42.17.

Federated Hermes Company 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.