Assenagon Asset Management S.A. Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Assenagon Asset Management S.A. lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 665,305 shares of the company’s stock after selling 206,885 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.81% of Federated Hermes worth $27,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHI. Fortis Advisors LLC purchased a new stake in shares of Federated Hermes during the 4th quarter worth $727,000. GAMMA Investing LLC lifted its holdings in Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after buying an additional 646 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of Federated Hermes by 4.7% during the 3rd quarter. DGS Capital Management LLC now owns 20,715 shares of the company’s stock worth $762,000 after acquiring an additional 931 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Federated Hermes during the 3rd quarter worth about $113,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Federated Hermes in the 3rd quarter valued at about $475,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Down 0.6 %

Shares of Federated Hermes stock opened at $38.23 on Friday. The company’s fifty day moving average is $41.44 and its two-hundred day moving average is $37.50. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The company has a market capitalization of $3.13 billion, a P/E ratio of 12.29, a PEG ratio of 0.99 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is presently 39.87%.

Insider Activity at Federated Hermes

In other news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock worth $1,185,871 in the last three months. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FHI. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price target (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada lifted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.17.

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.