Thrivent Financial for Lutherans Sells 64,879 Shares of Federated Hermes, Inc. (NYSE:FHI)

Thrivent Financial for Lutherans lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 25.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 190,594 shares of the company’s stock after selling 64,879 shares during the period. Thrivent Financial for Lutherans’ holdings in Federated Hermes were worth $7,836,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FHI. R Squared Ltd bought a new position in shares of Federated Hermes during the 4th quarter valued at about $43,000. Sound Income Strategies LLC acquired a new position in shares of Federated Hermes in the fourth quarter valued at approximately $53,000. Neo Ivy Capital Management acquired a new position in shares of Federated Hermes in the third quarter valued at approximately $60,000. GAMMA Investing LLC increased its position in shares of Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after acquiring an additional 646 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Federated Hermes by 112.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock worth $109,000 after acquiring an additional 1,400 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FHI. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group lifted their target price on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $39.54 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The stock has a 50 day moving average price of $38.66 and a 200 day moving average price of $39.17. The stock has a market capitalization of $3.21 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92.

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

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

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.