Alliancebernstein L.P. Has $40.26 Million Position in Federated Hermes, Inc. (NYSE:FHI)

Alliancebernstein L.P. lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 18.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 979,370 shares of the company’s stock after selling 221,725 shares during the quarter. Alliancebernstein L.P.’s holdings in Federated Hermes were worth $40,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FHI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Federated Hermes during the fourth quarter worth $292,000. Inspire Investing LLC acquired a new position in shares of Federated Hermes during the 4th quarter worth about $829,000. Charles Schwab Investment Management Inc. increased its stake in shares of Federated Hermes by 19.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after acquiring an additional 145,878 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock valued at $916,000 after acquiring an additional 10,135 shares during the period. Finally, Fortis Advisors LLC bought a new position in Federated Hermes during the 4th quarter worth approximately $727,000. Institutional investors own 75.94% of the company’s stock.

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 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 transaction, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. UBS Group increased their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI set a $44.00 price objective on Federated Hermes in a report on Monday, February 3rd. Finally, Royal Bank of Canada lowered their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

NYSE:FHI opened at $36.94 on Friday. 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 12-month low of $31.24 and a 12-month high of $43.92. The stock’s 50 day moving average price is $39.11 and its two-hundred day moving average price is $39.55. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. On average, analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a yield of 3.36%. Federated Hermes’s dividend payout ratio (DPR) is currently 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.