Wedge Capital Management L L P NC Sells 1,710 Shares of Federated Hermes, Inc. (NYSE:FHI)

Wedge Capital Management L L P NC reduced its position in Federated Hermes, Inc. (NYSE:FHI) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,766 shares of the company’s stock after selling 1,710 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Federated Hermes were worth $984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHI. Vanguard Group Inc. lifted its holdings in shares of Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after acquiring an additional 45,214 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Federated Hermes by 59.1% during the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after acquiring an additional 673,496 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Federated Hermes by 39.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after acquiring an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares during the period. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $38.00 on Thursday. The stock has a market capitalization of $3.20 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.41 and a beta of 1.16. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $38.15. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $35.07 and a two-hundred day moving average price of $34.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. Equities analysts predict that Federated Hermes, Inc. will post 3.63 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is currently 35.23%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FHI. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Evercore ISI raised their target price on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. TD Cowen lowered their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, UBS Group lowered their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Insiders Place Their Bets

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Federated Hermes 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.