Sound View Wealth Advisors Group LLC Cuts Stake in Federated Hermes, Inc. (NYSE:FHI)

Sound View Wealth Advisors Group LLC lessened its stake in Federated Hermes, Inc. (NYSE:FHI) by 23.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,241 shares of the company’s stock after selling 5,694 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Federated Hermes were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Federated Hermes during the 4th quarter valued at about $43,000. Sound Income Strategies LLC purchased a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $53,000. Neo Ivy Capital Management bought a new stake in shares of Federated Hermes during 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 valued at $70,000 after acquiring an additional 646 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Federated Hermes by 112.4% in the 4th 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 last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 0.3 %

Shares of NYSE:FHI opened at $38.84 on Monday. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.00 and a beta of 1.10. 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’s 50-day simple moving average is $38.91 and its two-hundred day simple moving average is $38.83.

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

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s payout ratio is 38.87%.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction that occurred on 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 directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on FHI. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. StockNews.com raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Evercore ISI set a $44.00 price target on shares of Federated Hermes in a research note on Monday, February 3rd. Finally, UBS Group increased their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.17.

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.