Federated Hermes, Inc. (NYSE:FHI) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 74.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,836 shares of the company's stock after selling 19,984 shares during the quarter. SG Americas Securities LLC's holdings in Federated Hermes were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Algert Global LLC lifted its stake in shares of Federated Hermes by 34.2% during the 2nd quarter. Algert Global LLC now owns 349,802 shares of the company's stock worth $11,501,000 after purchasing an additional 89,140 shares during the last quarter. Millennium Management LLC lifted its position in Federated Hermes by 1.1% during the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company's stock worth $31,888,000 after acquiring an additional 10,552 shares during the period. Dark Forest Capital Management LP grew its stake in Federated Hermes by 111.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 33,600 shares of the company's stock valued at $1,105,000 after purchasing an additional 17,701 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the period. Finally, AXA S.A. acquired a new stake in shares of Federated Hermes during the second quarter worth about $6,200,000. 75.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The stock was 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 in the company, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FHI. UBS Group lifted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday. StockNews.com raised shares of Federated Hermes from a "hold" rating to a "buy" rating in a report on Friday, October 4th. Royal Bank of Canada upped their price objective on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, October 11th. TD Cowen dropped their target price on Federated Hermes from $34.00 to $33.00 and set a "hold" rating on the stock in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.80.

Federated Hermes Stock Down 1.5 %

Shares of NYSE FHI traded down $0.59 during midday trading on Tuesday, hitting $38.19. The company's stock had a trading volume of 626,159 shares, compared to its average volume of 708,920. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The business's fifty day simple moving average is $35.53 and its two-hundred day simple moving average is $34.15. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $39.03.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million during the quarter, compared to analysts' expectations of $400.35 million. During the same quarter last year, the company posted $0.81 EPS. The firm's revenue was down 7.1% compared to the same quarter last year. On average, equities analysts predict that Federated Hermes, Inc. will post 3.63 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. This is an increase from Federated Hermes's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a yield of 3.25%. Federated Hermes's dividend payout ratio is 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.