Vanguard Group Inc. Sells 105,304 Shares of Federated Hermes, Inc. (NYSE:FHI)

Vanguard Group Inc. lessened its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,495,221 shares of the company's stock after selling 105,304 shares during the period. Vanguard Group Inc. owned about 10.38% of Federated Hermes worth $349,239,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Federated Hermes in the 4th quarter worth about $43,000. Sound Income Strategies LLC acquired a new position in shares of Federated Hermes in the 4th quarter worth approximately $53,000. Neo Ivy Capital Management bought a new stake in shares of Federated Hermes in the 3rd quarter valued at approximately $60,000. GAMMA Investing LLC raised its position in shares of Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock valued at $70,000 after acquiring an additional 646 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Federated Hermes by 112.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock worth $109,000 after purchasing an additional 1,400 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Stock Down 0.8 %

FHI traded down $0.27 during trading on Tuesday, reaching $35.86. 820,736 shares of the stock traded hands, compared to its average volume of 734,448. The stock's 50-day simple moving average is $38.92 and its two-hundred day simple moving average is $39.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) 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%. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.46%. Federated Hermes's dividend payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

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.