International Assets Investment Management LLC Purchases Shares of 21,768 Federated Hermes, Inc. (NYSE:FHI)

International Assets Investment Management LLC purchased a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,768 shares of the company's stock, valued at approximately $8,000,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Waldron Private Wealth LLC purchased a new stake in shares of Federated Hermes in the third quarter valued at about $261,000. Blue Trust Inc. grew its stake in Federated Hermes by 80.1% in the 3rd quarter. Blue Trust Inc. now owns 9,425 shares of the company's stock valued at $347,000 after purchasing an additional 4,193 shares during the period. Gilman Hill Asset Management LLC bought a new position in Federated Hermes in the 3rd quarter valued at $202,000. Exchange Traded Concepts LLC increased its position in shares of Federated Hermes by 19.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,680 shares of the company's stock valued at $797,000 after purchasing an additional 3,462 shares during the last quarter. Finally, CWM LLC grew its position in Federated Hermes by 74.7% during the third quarter. CWM LLC now owns 2,523 shares of the company's stock valued at $93,000 after buying an additional 1,079 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Dolores D. Dudiak sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated 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 owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated 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 sale, the vice president now owns 442,570 shares of the company's stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

FHI has been the topic of several research reports. UBS Group boosted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 4th. StockNews.com upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on Federated Hermes from $46.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Federated Hermes Price Performance

Shares of NYSE FHI traded up $0.41 during midday trading on Friday, hitting $40.54. 473,302 shares of the company's stock were exchanged, compared to its average volume of 718,114. The business's fifty day moving average price is $36.33 and its two-hundred day moving average price is $34.32. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.16 and a beta of 1.16. 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, Inc. has a 12-month low of $31.08 and a 12-month high of $40.65.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $410.26 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Federated Hermes, Inc. will post 3.83 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, November 8th. Federated Hermes's payout ratio is currently 39.87%.

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.