Cornercap Investment Counsel Inc. Sells 16,811 Shares of Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. trimmed its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,008 shares of the company's stock after selling 16,811 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Federated Hermes were worth $589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company's stock valued at $30,000 after acquiring an additional 711 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company's stock valued at $39,000 after purchasing an additional 349 shares during the period. Mather Group LLC. acquired a new position in shares of Federated Hermes in the 2nd quarter worth approximately $47,000. CWM LLC lifted its position in shares of Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company's stock worth $47,000 after buying an additional 1,311 shares during the period. Finally, UMB Bank n.a. boosted its stake in Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company's stock valued at $47,000 after buying an additional 296 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Wall Street Analyst Weigh In

FHI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. StockNews.com cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a research report on Monday, October 28th. UBS Group raised their price objective 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. Finally, TD Cowen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating and lifted their target price for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.33.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction dated Monday, November 4th. The stock was 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 owns 179,096 shares of the company's stock, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Federated Hermes Trading Up 0.4 %

NYSE:FHI traded up $0.17 during trading hours on Friday, hitting $42.18. 553,269 shares of the stock were exchanged, compared to its average volume of 711,846. The company has a market capitalization of $3.45 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. Federated Hermes, Inc. has a twelve month low of $31.08 and a twelve month high of $42.56. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $37.92 and its two-hundred day moving average is $34.84.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company's revenue 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. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.83 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, November 8th. Federated Hermes's dividend payout ratio (DPR) is currently 39.87%.

Federated Hermes Company 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.