Renaissance Technologies LLC Sells 130,200 Shares of Federated Hermes, Inc. $FHI

Renaissance Technologies LLC decreased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 30.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 296,100 shares of the company’s stock after selling 130,200 shares during the period. Renaissance Technologies LLC’s holdings in Federated Hermes were worth $16,792,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FHI. Morningstar Investment Management LLC boosted its stake in Federated Hermes by 82.6% during the 1st quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company’s stock valued at $2,262,000 after purchasing an additional 18,047 shares during the last quarter. Sei Investments Co. raised its stake in shares of Federated Hermes by 13.1% in the first quarter. Sei Investments Co. now owns 68,785 shares of the company’s stock worth $3,899,000 after purchasing an additional 7,941 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Federated Hermes by 9.4% in the first quarter. Cetera Investment Advisers now owns 21,203 shares of the company’s stock worth $1,202,000 after purchasing an additional 1,815 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Federated Hermes by 5.6% during the first quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock valued at $34,967,000 after purchasing an additional 32,810 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Federated Hermes by 15.6% during the first quarter. Parallel Advisors LLC now owns 15,090 shares of the company’s stock valued at $856,000 after buying an additional 2,033 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FHI shares. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a report on Monday, June 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Friday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Finally, TD Cowen lowered their price objective on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Federated Hermes has an average rating of “Hold” and an average target price of $55.75.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at $8,674,165.84. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the transaction, the vice president directly owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by insiders.

Federated Hermes Trading Down 0.7%

Shares of NYSE:FHI opened at $59.63 on Friday. The company has a market cap of $4.53 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.65. Federated Hermes, Inc. has a 12-month low of $46.66 and a 12-month high of $61.01. The stock has a 50 day moving average of $57.65 and a 200 day moving average of $56.23. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. The company had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. Federated Hermes’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. As a group, equities research analysts expect that Federated Hermes, Inc. will post 5.24 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is currently 29.46%.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.