Legal & General Group Plc Sells 6,051 Shares of Federated Hermes, Inc. (NYSE:FHI)

Legal & General Group Plc reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,686 shares of the company’s stock after selling 6,051 shares during the quarter. Legal & General Group Plc owned approximately 0.15% of Federated Hermes worth $5,044,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC purchased a new stake in Federated Hermes in the 4th quarter valued at about $605,000. FMR LLC grew its stake in Federated Hermes by 4.5% in the fourth quarter. FMR LLC now owns 5,919,888 shares of the company’s stock worth $243,367,000 after purchasing an additional 253,553 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Federated Hermes by 898.2% in the fourth quarter. Russell Investments Group Ltd. now owns 79,617 shares of the company’s stock worth $3,260,000 after purchasing an additional 71,641 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Federated Hermes by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,220 shares of the company’s stock worth $872,000 after purchasing an additional 2,833 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Federated Hermes by 96.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 110,211 shares of the company’s stock valued at $4,531,000 after purchasing an additional 54,174 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Price Performance

Shares of FHI opened at $36.26 on Tuesday. The company has a 50 day moving average of $38.62 and a two-hundred day moving average of $39.61. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month high of $43.92.

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

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FHI. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st. 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 note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.17.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by company insiders.

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.