Norges Bank Takes Position in Federated Hermes, Inc. (NYSE:FHI)

Norges Bank acquired a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 258,800 shares of the company's stock, valued at approximately $10,639,000. Norges Bank owned 0.32% of Federated Hermes at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Federated Hermes by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 268,221 shares of the company's stock worth $11,027,000 after purchasing an additional 16,399 shares during the period. Elo Mutual Pension Insurance Co acquired a new position in Federated Hermes in the fourth quarter valued at $446,000. WINTON GROUP Ltd purchased a new stake in Federated Hermes during the fourth quarter valued at about $4,155,000. Trust Investment Advisors purchased a new position in shares of Federated Hermes in the 4th quarter worth about $220,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Federated Hermes by 6.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,401 shares of the company's stock valued at $8,156,000 after purchasing an additional 12,585 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company's stock.

Federated Hermes Stock Up 2.5 %

FHI stock traded up $0.91 during midday trading on Friday, hitting $37.80. 715,920 shares of the company's stock were exchanged, compared to its average volume of 737,211. The firm has a 50 day moving average price of $38.75 and a 200-day moving average price of $39.57. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a dividend of $0.31 per share. The ex-dividend date was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.28%. Federated Hermes's payout ratio is 38.87%.

Analysts Set New Price Targets

Several research analysts recently commented on FHI shares. Evercore ISI cut their price target on shares of Federated Hermes from $42.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday. JPMorgan Chase & Co. restated an "underweight" rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Royal Bank of Canada lowered their price target on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a report on Tuesday, January 28th. UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and an average price target of $41.17.

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.