The Manufacturers Life Insurance Company Sells 2,126 Shares of Federated Hermes, Inc. (NYSE:FHI)

The Manufacturers Life Insurance Company decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 61,399 shares of the company’s stock after selling 2,126 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Federated Hermes were worth $2,524,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Federated Hermes during the 4th quarter worth approximately $37,000. R Squared Ltd bought a new position in shares of Federated Hermes during the fourth quarter valued at $43,000. Sound Income Strategies LLC acquired a new stake in shares of Federated Hermes in the 4th quarter valued at $53,000. GAMMA Investing LLC grew its holdings in shares of Federated Hermes by 60.9% in the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after purchasing an additional 646 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Federated Hermes during the 4th quarter worth about $73,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, UBS Group upped their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.33.

Federated Hermes Stock Up 0.4 %

Federated Hermes stock opened at $42.82 on Friday. The company has a fifty day simple moving average of $39.26 and a 200 day simple moving average of $39.91. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a market cap of $3.39 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The business had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. Federated Hermes’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, May 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s dividend payout ratio is presently 38.31%.

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.