Bank of New York Mellon Corp Sells 24,825 Shares of Federated Hermes, Inc. $FHI

Bank of New York Mellon Corp cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 654,378 shares of the company’s stock after selling 24,825 shares during the period. Bank of New York Mellon Corp’s holdings in Federated Hermes were worth $37,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Preferred LLC boosted its stake in Federated Hermes by 75.0% in the 1st quarter. Advisors Preferred LLC now owns 8,823 shares of the company’s stock valued at $500,000 after purchasing an additional 3,781 shares during the period. Sanctuary Advisors LLC bought a new position in Federated Hermes during the first quarter worth about $778,000. State of Michigan Retirement System raised its stake in Federated Hermes by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock worth $1,008,000 after purchasing an additional 300 shares in the last quarter. Principal Financial Group Inc. raised its stake in Federated Hermes by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock worth $9,240,000 after purchasing an additional 6,045 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Federated Hermes by 4,178.2% in the 1st quarter. Fifth Third Bancorp now owns 25,327 shares of the company’s stock valued at $1,436,000 after purchasing an additional 24,735 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE:FHI opened at $57.83 on Friday. Federated Hermes, Inc. has a twelve month low of $46.66 and a twelve month high of $60.77. 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 stock’s 50-day simple moving average is $57.18 and its 200 day simple moving average is $56.01. The firm has a market capitalization of $4.39 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. The firm had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, analysts anticipate that Federated Hermes, Inc. will post 5.24 EPS for the current fiscal year.

Federated Hermes Increases Dividend

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

Insider Buying and Selling

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value of $216,800.00. Following the sale, the vice president 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 filing with the SEC, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 151,276 shares in the company, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FHI shares. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. reduced their target price on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Evercore restated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price target on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and an average 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.