Ledyard National Bank Has $9.30 Million Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Ledyard National Bank lessened its stake in Federated Hermes, Inc. (NYSE:FHI) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,731 shares of the company’s stock after selling 9,077 shares during the quarter. Ledyard National Bank owned 0.32% of Federated Hermes worth $9,302,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D boosted its stake in Federated Hermes by 15.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 80,312 shares of the company’s stock worth $2,719,000 after purchasing an additional 10,727 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Federated Hermes by 11.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 23,321 shares of the company’s stock worth $790,000 after buying an additional 2,432 shares during the period. Duality Advisers LP bought a new position in shares of Federated Hermes during the fourth quarter worth about $2,477,000. Signaturefd LLC raised its position in Federated Hermes by 65.7% in the 4th quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $47,000 after buying an additional 548 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in Federated Hermes by 32.2% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 122,796 shares of the company’s stock valued at $4,158,000 after acquiring an additional 29,930 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Royal Bank of Canada lifted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Monday, January 29th. UBS Group increased their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen assumed coverage on Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the transaction, the chief executive officer now owns 178,176 shares in the company, valued at approximately $6,441,062.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares in the company, valued at $1,769,882.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,435 shares of company stock valued at $4,092,831. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI traded down $0.10 during mid-day trading on Monday, reaching $32.70. The company’s stock had a trading volume of 1,465,246 shares, compared to its average volume of 782,069. The company has a current ratio of 3.39, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.76 billion, a P/E ratio of 9.29, a PEG ratio of 0.77 and a beta of 1.12. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $42.02. The business has a 50-day simple moving average of $35.55 and a two-hundred day simple moving average of $34.10.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter last year, the company posted $0.78 EPS. Federated Hermes’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Federated Hermes, Inc. will post 3.76 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a None dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a dividend of $1.31 per share. The ex-dividend date is Tuesday, May 7th. This represents a dividend yield of 3.8%. This is a positive change from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio (DPR) is 31.82%.

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.