Federated Hermes (NYSE:FHI) CEO Saker Anwar Nusseibeh Sells 15,000 Shares

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Anwar Nusseibeh sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the completion of the sale, the chief executive officer directly owned 157,039 shares in the company, valued at approximately $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Federated Hermes Trading Up 1.2%

NYSE FHI traded up $0.57 during trading hours on Monday, reaching $49.05. The company had a trading volume of 665,994 shares, compared to its average volume of 768,813. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.80 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.54 and a beta of 0.80. The stock has a 50-day moving average of $51.87 and a 200 day moving average of $47.37. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $442.67 million. During the same period in the previous year, the firm posted $1.06 EPS. Federated Hermes’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a $0.34 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. Federated Hermes’s payout ratio is currently 28.39%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Federated Hermes by 97.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after acquiring an additional 430 shares in the last quarter. AdvisorNet Financial Inc bought a new stake in Federated Hermes in the second quarter valued at $44,000. Elevation Point Wealth Partners LLC bought a new position in Federated Hermes in the 2nd quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Federated Hermes during the 2nd quarter worth $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after buying an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analysts Set New Price Targets

FHI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday. Evercore ISI raised their price target on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

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.