Burney Co. Sells 91,947 Shares of Federated Hermes, Inc. $FHI

Burney Co. reduced its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 42.1% in the first quarter, Holdings Channel reports. The firm owned 126,714 shares of the company’s stock after selling 91,947 shares during the period. Burney Co.’s holdings in Federated Hermes were worth $7,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Federated Hermes by 236.0% during the first quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock valued at $362,000 after buying an additional 6,244 shares during the period. United Services Automobile Association bought a new position in Federated Hermes in the 1st quarter worth about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Federated Hermes by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock worth $9,769,000 after acquiring an additional 24,960 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Federated Hermes by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 33,246 shares of the company’s stock valued at $1,474,000 after acquiring an additional 614 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Federated Hermes by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 11,744 shares of the company’s stock valued at $497,000 after acquiring an additional 547 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 2.3%

NYSE FHI opened at $57.90 on Tuesday. The stock’s 50-day simple moving average is $56.46 and its two-hundred day simple moving average is $55.49. Federated Hermes, Inc. has a twelve month low of $45.03 and a twelve month high of $60.17. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 2.02 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million during the quarter, compared to analyst estimates of $475.22 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that Federated Hermes, Inc. will post 5.12 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s payout ratio is 29.46%.

Insider Buying and Selling

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FHI. TD Cowen dropped their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Evercore restated an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. Royal Bank Of Canada raised their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.75.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.