Insider Selling: Federated Hermes, Inc. (NYSE:FHI) Insider Sells 1,363 Shares of Stock

Federated Hermes, Inc. (NYSE:FHI) insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now directly owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Federated Hermes Stock Performance

NYSE FHI opened at $41.41 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a twelve month low of $31.08 and a twelve month high of $42.56. The business has a 50-day moving average price of $38.38 and a 200-day moving average price of $35.04. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. As a group, equities research analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.99%. Federated Hermes’s dividend payout ratio is currently 39.87%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FHI shares. Evercore ISI boosted their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after buying an additional 19,530 shares during the last quarter. Tidal Investments LLC bought a new position in Federated Hermes during the first quarter valued at $1,419,000. Assenagon Asset Management S.A. grew its stake in shares of Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after buying an additional 324,958 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Federated Hermes by 78.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,814 shares of the company’s stock worth $2,522,000 after buying an additional 30,621 shares during the last quarter. Finally, Vident Advisory LLC raised its position in shares of Federated Hermes by 697.7% during the 1st quarter. Vident Advisory LLC now owns 93,522 shares of the company’s stock valued at $3,378,000 after buying an additional 81,798 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

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.