Insider Selling: Federated Hermes (NYSE:FHI) Insider Sells 1,249 Shares of Stock

Federated Hermes, Inc. (NYSE:FHI) insider Richard Novak sold 1,249 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the transaction, the insider directly owned 57,500 shares in the company, valued at $2,751,375. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Federated Hermes Trading Down 1.2%

NYSE:FHI traded down $0.59 on Thursday, reaching $47.45. The company’s stock had a trading volume of 568,053 shares, compared to its average volume of 752,573. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The stock has a 50 day moving average price of $50.87 and a 200 day moving average price of $48.24. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. During the same period last year, the company earned $1.06 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s payout ratio is 28.39%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FHI shares. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Evercore ISI boosted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Royal Bank Of Canada increased their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. Finally, Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in Federated Hermes by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 22,057 shares of the company’s stock valued at $899,000 after buying an additional 837 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Federated Hermes by 31.3% during the 1st quarter. Cerity Partners LLC now owns 19,524 shares of the company’s stock worth $796,000 after acquiring an additional 4,659 shares in the last quarter. CWM LLC increased its holdings in shares of Federated Hermes by 21.0% in the 1st quarter. CWM LLC now owns 3,521 shares of the company’s stock valued at $144,000 after acquiring an additional 612 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Federated Hermes by 136,875.0% during the 1st quarter. Lindbrook Capital LLC now owns 5,479 shares of the company’s stock worth $223,000 after acquiring an additional 5,475 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Federated Hermes by 36.0% during the first quarter. Allianz Asset Management GmbH now owns 563,879 shares of the company’s stock worth $22,989,000 after purchasing an additional 149,348 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.