Thrivent Financial for Lutherans Has $2.67 Million Holdings in Federated Hermes, Inc. $FHI

Thrivent Financial for Lutherans cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,279 shares of the company’s stock after selling 11,856 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Federated Hermes were worth $2,670,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Torren Management LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth approximately $25,000. MAI Capital Management raised its stake in shares of Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after purchasing an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Federated Hermes in the second quarter valued at $56,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Federated Hermes in the third quarter valued at $75,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Federated Hermes by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock valued at $69,000 after purchasing an additional 679 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

Federated Hermes stock opened at $54.77 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The stock has a fifty day moving average price of $56.29 and a two-hundred day moving average price of $53.97. Federated Hermes, Inc. has a 52-week low of $41.55 and a 52-week high of $59.05. The firm has a market capitalization of $4.16 billion, a P/E ratio of 10.61, a P/E/G ratio of 2.15 and a beta of 0.67.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million during the quarter, compared to analyst estimates of $475.22 million. During the same period in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts anticipate that Federated Hermes, Inc. will post 5.1 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 8th. Federated Hermes’s dividend payout ratio is currently 29.46%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 72,392 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $56.23, for a total value of $4,070,602.16. Following the transaction, the vice president owned 263,987 shares of the company’s stock, valued at $14,843,989.01. This represents a 21.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FHI. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. cut their target price on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Argus upgraded Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada cut their target price on Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.00.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.