Federated Hermes (NYSE:FHI) Stock Price Down 3.4% - Here's Why

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) traded down 3.4% during mid-day trading on Tuesday . The company traded as low as $39.13 and last traded at $39.21. 78,039 shares were traded during trading, a decline of 81% from the average session volume of 417,957 shares. The stock had previously closed at $40.59.

Wall Street Analyst Weigh In

Several research firms have commented on FHI. Deutsche Bank Aktiengesellschaft upped their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Evercore ISI raised their price target 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. TD Cowen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Royal Bank of Canada increased their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Monday, October 28th. Finally, StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

Federated Hermes Stock Performance

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 firm's 50 day moving average is $41.67 and its 200-day moving average is $37.28. The company has a market cap of $3.21 billion, a PE ratio of 12.63, a PEG ratio of 1.19 and a beta of 1.15.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. 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 company posted $0.86 EPS. The company's revenue was up 1.4% compared to the same quarter last year. On average, research analysts anticipate that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes's payout ratio is presently 39.87%.

Insider Buying and Selling

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the 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 transaction, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,280 shares of company stock worth $1,185,871. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its position in Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company's stock valued at $336,000 after acquiring an additional 275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company's stock worth $612,000 after purchasing an additional 340 shares in the last quarter. GAMMA Investing LLC increased its position in Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company's stock worth $39,000 after purchasing an additional 349 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company's stock valued at $111,000 after buying an additional 643 shares during the period. Finally, James Investment Research Inc. lifted its position in Federated Hermes by 9.7% during the third quarter. James Investment Research Inc. now owns 7,896 shares of the company's stock valued at $290,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

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.