The Manufacturers Life Insurance Company Decreases Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

The Manufacturers Life Insurance Company lessened its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,306 shares of the company’s stock after selling 2,293 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Federated Hermes worth $2,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of Federated Hermes by 123.8% during the 4th quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock valued at $2,364,000 after buying an additional 38,630 shares during the period. SG Americas Securities LLC raised its position in shares of Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after buying an additional 19,530 shares during the period. Tidal Investments LLC purchased a new stake in shares of Federated Hermes during the 1st quarter valued at approximately $1,419,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Federated Hermes during the 1st quarter valued at approximately $1,542,000. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Federated Hermes by 103.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock valued at $2,121,000 after buying an additional 29,793 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE:FHI opened at $36.18 on Thursday. The company has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $34.05. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes, Inc. has a 52 week low of $30.23 and a 52 week high of $37.43.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, equities analysts anticipate that Federated Hermes, Inc. will post 3.62 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is presently 35.23%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

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.