Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,174 shares of the company's stock after selling 84,133 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Federated Hermes worth $6,515,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Federated Hermes by 102.7% in the second quarter. Bank of Montreal Can now owns 282,995 shares of the company's stock worth $9,308,000 after purchasing an additional 143,363 shares during the last quarter. GAMMA Investing LLC increased its stake in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company's stock worth $39,000 after acquiring an additional 349 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Federated Hermes by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company's stock worth $28,282,000 after acquiring an additional 152,926 shares in the last quarter. Factorial Partners LLC boosted its position in shares of Federated Hermes by 11.5% during the 3rd quarter. Factorial Partners LLC now owns 160,239 shares of the company's stock valued at $5,892,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after purchasing an additional 150,017 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Trading Down 0.6 %

FHI traded down $0.26 during trading hours on Thursday, reaching $40.85. 566,970 shares of the company's stock traded hands, compared to its average volume of 695,554. The firm has a 50-day moving average price of $41.57 and a 200 day moving average price of $37.01. The firm has a market capitalization of $3.34 billion, a PE ratio of 13.14, a PEG ratio of 1.19 and a beta of 1.15. 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 52-week low of $31.24 and a 52-week high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.04%. Federated Hermes's payout ratio is presently 39.87%.

Insider Activity

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,280 shares of company stock worth $1,185,871. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the subject of several research reports. TD Cowen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating and increased their price objective for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 11th. Evercore ISI upped their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. StockNews.com cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Federated Hermes currently has an average rating of "Moderate Buy" and a consensus target price of $43.33.

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.