HighTower Advisors LLC Cuts Stake in Federated Hermes, Inc. (NYSE:FHI)

HighTower Advisors LLC lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 437,212 shares of the company’s stock after selling 13,313 shares during the period. HighTower Advisors LLC owned about 0.53% of Federated Hermes worth $17,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FHI. Amalgamated Bank grew its stake in Federated Hermes by 1.0% during the 4th quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after acquiring an additional 313 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after acquiring an additional 340 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after acquiring an additional 474 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Federated Hermes by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock valued at $914,000 after acquiring an additional 560 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in 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. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Evercore ISI set a $44.00 price target on shares of Federated Hermes in a research note on Monday, February 3rd. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, UBS Group increased their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $42.17.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Federated Hermes stock opened at $39.04 on Friday. The firm has a 50 day simple moving average of $38.64 and a 200-day simple moving average of $38.95. 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 1-year low of $31.24 and a 1-year high of $43.92. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.31 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.18%. Federated Hermes’s dividend payout ratio is currently 38.87%.

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.