Principal Financial Group Inc. Sells 84,133 Shares of Federated Hermes, Inc. (NYSE:FHI)

Principal Financial Group Inc. lowered its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,174 shares of the company's stock after selling 84,133 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Federated Hermes worth $6,515,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FHI. SG Americas Securities LLC lifted its stake in Federated Hermes by 267.9% in the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company's stock valued at $882,000 after acquiring an additional 19,530 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Federated Hermes in the 1st quarter worth approximately $1,419,000. Assenagon Asset Management S.A. lifted its position in shares of Federated Hermes by 39.8% during the 2nd 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 period. State Board of Administration of Florida Retirement System grew its position in Federated Hermes by 78.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 69,814 shares of the company's stock valued at $2,522,000 after acquiring an additional 30,621 shares during the period. Finally, Vident Advisory LLC raised its stake in Federated Hermes by 697.7% during the first quarter. Vident Advisory LLC now owns 93,522 shares of the company's stock worth $3,378,000 after acquiring an additional 81,798 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Up 0.3 %

FHI stock traded up $0.14 during trading on Wednesday, hitting $41.41. 459,860 shares of the company traded hands, compared to its average volume of 710,290. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. Federated Hermes, Inc. has a 1 year low of $31.08 and a 1 year high of $42.56. The company has a 50-day moving average of $38.23 and a 200-day moving average of $35.00. The firm has a market capitalization of $3.39 billion, a PE ratio of 13.27, a P/E/G ratio of 1.17 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 (EPS) for the quarter, beating 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 the consensus estimate of $410.26 million. During the same quarter last year, the firm posted $0.86 EPS. The business's quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.99%. Federated Hermes's dividend payout ratio is currently 39.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 11th. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. TD Cowen raised Federated Hermes from a "hold" rating to a "buy" rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Finally, Evercore ISI upped their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.33.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business's 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 sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the sale, the vice president now owns 310,767 shares of the company's stock, valued at $12,862,646.13. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock worth $1,185,871 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

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.