Federated Hermes, Inc. (NYSE:FHI) CEO Sells $484,378.72 in Stock

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) CEO Saker Anwar Nusseibeh sold 12,152 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Federated Hermes Stock Down 1.3 %

NYSE FHI traded down $0.52 on Monday, hitting $40.02. 525,596 shares of the company were exchanged, compared to its average volume of 719,922. The company has a market cap of $3.27 billion, a PE ratio of 12.86, a PEG ratio of 1.16 and a beta of 1.15. Federated Hermes, Inc. has a 12 month low of $31.08 and a 12 month high of $40.65. The stock has a fifty day moving average of $36.46 and a 200-day moving average of $34.35. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its 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. The business had revenue of $408.46 million for 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%. Federated Hermes's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, analysts forecast that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, November 8th. Federated Hermes's dividend payout ratio is presently 39.87%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FHI. AQR Capital Management LLC raised its holdings in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock worth $87,866,000 after buying an additional 1,261,097 shares during the last quarter. LSV Asset Management acquired a new position in Federated Hermes during the second quarter worth $11,913,000. Assenagon Asset Management S.A. raised its holdings in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company's stock worth $37,555,000 after buying an additional 324,958 shares during the last quarter. AXA S.A. acquired a new position in Federated Hermes during the second quarter worth $6,200,000. Finally, Interval Partners LP raised its holdings in Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company's stock worth $14,804,000 after buying an additional 154,370 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FHI. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, July 11th. UBS Group boosted 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. Evercore ISI upped their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. StockNews.com raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised shares of Federated Hermes from a "hold" rating to a "buy" rating and upped their price objective 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, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

About Federated Hermes

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.

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