Alliancebernstein L.P. Has $40.26 Million Holdings in Federated Hermes, Inc. (NYSE:FHI)

Alliancebernstein L.P. trimmed its stake in Federated Hermes, Inc. (NYSE:FHI) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 979,370 shares of the company’s stock after selling 221,725 shares during the period. Alliancebernstein L.P. owned about 1.20% of Federated Hermes worth $40,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Federated Hermes during the fourth quarter valued at about $292,000. Inspire Investing LLC bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $829,000. Charles Schwab Investment Management Inc. raised its stake in shares of Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after purchasing an additional 145,878 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Federated Hermes by 78.5% in the fourth quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock worth $916,000 after purchasing an additional 10,135 shares during the period. Finally, Fortis Advisors LLC acquired a new stake in Federated Hermes during the fourth quarter worth $727,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 6.4 %

FHI stock opened at $36.94 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.00 and a beta of 0.84. The business has a fifty day moving average price of $39.11 and a 200 day moving average price of $39.55. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio is currently 38.87%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Evercore ISI set a $44.00 price objective on Federated Hermes in a research note on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada lowered their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has an average rating of “Hold” and a consensus price target of $42.17.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently 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.