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

Assenagon Asset Management S.A. lowered its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 665,305 shares of the company's stock after selling 206,885 shares during the period. Assenagon Asset Management S.A. owned about 0.81% of Federated Hermes worth $27,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FHI. FMR LLC grew its stake in Federated Hermes by 2.5% in the third quarter. FMR LLC now owns 5,666,335 shares of the company's stock worth $208,351,000 after purchasing an additional 137,245 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock worth $87,866,000 after acquiring an additional 1,261,097 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company's stock worth $45,982,000 after acquiring an additional 92,643 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company's stock valued at $31,888,000 after acquiring an additional 10,552 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Federated Hermes by 13.1% during the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company's stock valued at $28,953,000 after acquiring an additional 90,900 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company's stock, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,280 shares of company stock valued at $1,185,871. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FHI shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 26th. UBS Group raised their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target 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. Finally, Evercore ISI raised their price target on Federated Hermes from $41.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Federated Hermes has a consensus rating of "Hold" and a consensus price target of $42.17.

Federated Hermes Stock Performance

Shares of FHI traded down $0.04 during mid-day trading on Friday, reaching $38.22. 51,223 shares of the company's stock traded hands, compared to its average volume of 631,709. 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 business's 50-day moving average price is $41.37 and its 200-day moving average price is $37.51. The stock has a market capitalization of $3.13 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $408.46 million during the quarter, compared to analysts' expectations of $410.26 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.24%. Federated Hermes's dividend payout ratio (DPR) is 39.87%.

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.