Ledyard National Bank Sells 9,077 Shares of Federated Hermes, Inc. (NYSE:FHI)

Ledyard National Bank cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,731 shares of the company’s stock after selling 9,077 shares during the quarter. Ledyard National Bank’s holdings in Federated Hermes were worth $9,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FHI. FMR LLC grew its position in shares of Federated Hermes by 12.6% in the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after buying an additional 562,232 shares during the last quarter. Wellington Management Group LLP raised its holdings in Federated Hermes by 87.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after purchasing an additional 533,083 shares in the last quarter. AQR Capital Management LLC raised its holdings in Federated Hermes by 183.5% in the 3rd quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after purchasing an additional 518,715 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Federated Hermes by 228.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 478,094 shares of the company’s stock worth $16,193,000 after purchasing an additional 332,528 shares during the period. Finally, Algebris UK Ltd bought a new stake in shares of Federated Hermes during the 3rd quarter valued at about $9,183,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Buying and Selling at Federated Hermes

In related news, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total transaction of $60,009.00. Following the sale, the vice president now directly owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the transaction, the vice president now directly owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the transaction, the vice president now owns 31,689 shares in the company, valued at $1,145,557.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,435 shares of company stock worth $4,092,831. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Down 0.3 %

Federated Hermes stock traded down $0.10 during mid-day trading on Monday, hitting $32.70. The company had a trading volume of 1,465,246 shares, compared to its average volume of 782,069. Federated Hermes, Inc. has a 12 month low of $30.23 and a 12 month high of $42.02. The company has a market capitalization of $2.76 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. The stock’s 50 day moving average price is $35.55 and its two-hundred day moving average price is $34.10. The company has a current ratio of 3.39, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. Federated Hermes’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.76 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a $1.31 dividend. This is a positive change from Federated Hermes’s previous None dividend of $1.27. This represents a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 7th. Federated Hermes’s payout ratio is presently 31.82%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FHI. TD Cowen started coverage on Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. Finally, UBS Group upped their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

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.