Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in Federated Hermes, Inc. (NYSE:FHI) by 31.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,833 shares of the company’s stock after selling 2,242 shares during the period. Russell Investments Group Ltd.’s holdings in Federated Hermes were worth $164,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Fifth Third Bancorp boosted its stake in shares of Federated Hermes by 71.1% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after purchasing an additional 307 shares during the period. Signaturefd LLC grew its stake in shares of Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after acquiring an additional 343 shares in the last quarter. Blue Trust Inc. grew its stake in Federated Hermes by 23.0% during the 4th quarter. Blue Trust Inc. now owns 2,708 shares of the company’s stock valued at $92,000 after purchasing an additional 507 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Federated Hermes during the fourth quarter worth approximately $128,000. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Federated Hermes during the third quarter worth approximately $200,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the sale, the insider now directly owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a legal filing 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 sale, the chief executive officer now directly owns 178,176 shares in the company, valued at $6,441,062.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Insiders sold 23,030 shares of company stock worth $833,153 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada upped their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Monday, January 29th. Evercore ISI lowered their price target on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, UBS Group lifted their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.29.

Federated Hermes Stock Up 0.5 %

FHI stock opened at $32.53 on Friday. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $34.53 and its 200 day simple moving average is $34.18. The stock has a market cap of $2.74 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $38.93.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data 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 return on equity of 27.00% and a net margin of 18.75%. The business had revenue of $396.37 million during the quarter, compared to analyst estimates of $400.26 million. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 3.6 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a None dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were paid a dividend of $1.31 per share. This is a boost from Federated Hermes’s previous None dividend of $1.27. This represents a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 7th. Federated Hermes’s payout ratio is currently 35.23%.

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.