Inlet Private Wealth LLC Cuts Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Inlet Private Wealth LLC trimmed its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 21.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,950 shares of the company's stock after selling 33,150 shares during the quarter. Inlet Private Wealth LLC owned 0.15% of Federated Hermes worth $4,558,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FHI. Headlands Technologies LLC boosted its stake 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 buying an additional 711 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 349 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Federated Hermes in the 2nd quarter valued at approximately $47,000. CWM LLC grew its stake in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company's stock valued at $47,000 after acquiring an additional 1,311 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company's stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Trading Up 1.1 %

NYSE FHI traded up $0.40 during trading on Thursday, hitting $38.41. 386,824 shares of the company's stock traded hands, compared to its average volume of 710,130. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes, Inc. has a 12-month low of $30.23 and a 12-month high of $38.42. The stock has a fifty day moving average of $35.07 and a two-hundred day moving average of $34.10. The firm has a market cap of $3.23 billion, a P/E ratio of 10.91, a PEG ratio of 1.41 and a beta of 1.16.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business had revenue of $402.60 million for the quarter, compared to analysts' expectations of $400.35 million. During the same quarter in the prior year, the business earned $0.81 EPS. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 3.63 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, August 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.28. Federated Hermes's dividend payout ratio is presently 35.23%.

Insiders Place Their Bets

In related news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares of the company's stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on FHI. UBS Group decreased their target price on Federated Hermes from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada upped their price target on Federated Hermes from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, July 11th. StockNews.com upgraded Federated Hermes from a "hold" rating to a "buy" rating in a report on Friday, October 4th. Finally, Evercore ISI increased their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.80.

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.