Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,625 shares of the company’s stock after selling 4,866 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Federated Hermes worth $3,602,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FHI. FMR LLC grew its holdings in Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after buying an additional 137,245 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Federated Hermes by 53.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after acquiring an additional 446,683 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Federated Hermes by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after acquiring an additional 92,643 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock valued at $28,953,000 after purchasing an additional 90,900 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FHI shares. Evercore ISI set a $44.00 price objective on shares of Federated Hermes in a research report on Monday, February 3rd. UBS Group increased their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada reduced 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. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Federated Hermes has an average rating of “Hold” and a consensus price target of $42.17.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Performance

Federated Hermes stock opened at $40.70 on Monday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock’s 50-day moving average is $38.95 and its 200-day moving average is $39.41.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.05%. Federated Hermes’s payout ratio is 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.