PNC Financial Services Group Inc. Sells 1,116 Shares of Federated Hermes, Inc. $FHI

PNC Financial Services Group Inc. trimmed its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,342 shares of the company’s stock after selling 1,116 shares during the period. PNC Financial Services Group Inc.’s holdings in Federated Hermes were worth $1,566,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FHI. Vanguard Group Inc. grew its position in shares of Federated Hermes by 3.1% during the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after purchasing an additional 265,590 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares during the last quarter. Invesco Ltd. boosted its stake in Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock valued at $96,533,000 after buying an additional 137,248 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Federated Hermes by 0.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock valued at $77,650,000 after buying an additional 16,333 shares in the last quarter. Finally, LSV Asset Management increased its stake in Federated Hermes by 27.1% in the 1st quarter. LSV Asset Management now owns 1,107,089 shares of the company’s stock worth $45,136,000 after acquiring an additional 236,313 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Federated Hermes stock opened at $48.05 on Thursday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The firm has a 50-day moving average of $50.87 and a two-hundred day moving average of $48.24.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. The business had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, November 7th. Federated Hermes’s dividend payout ratio is currently 28.39%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.54, for a total transaction of $728,100.00. Following the transaction, the chief executive officer owned 157,039 shares in the company, valued at approximately $7,622,673.06. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FHI shares. JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Federated Hermes Profile

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.