Federated Hermes (NYSE:FHI) Stock: Insider Saker Anwar Nusseibeh Sells 5,700 Shares

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Nusseibeh sold 5,700 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $65.10, for a total value of $371,070.00. Following the completion of the sale, the chief executive officer owned 138,546 shares of the company’s stock, valued at $9,019,344.60. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Federated Hermes Stock Up 1.8%

Shares of NYSE FHI traded up $1.17 during mid-day trading on Monday, reaching $65.16. 1,123,530 shares of the company’s stock were exchanged, compared to its average volume of 723,554. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.84 and a beta of 0.67. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $58.51 and a 200 day simple moving average of $57.65. Federated Hermes, Inc. has a twelve month low of $47.30 and a twelve month high of $67.38.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business had revenue of $507.33 million for the quarter, compared to analysts’ expectations of $504.91 million. During the same quarter in the previous year, the business posted $1.34 EPS. Federated Hermes’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Federated Hermes, Inc. will post 5.56 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 6th. Federated Hermes’s dividend payout ratio (DPR) is 27.44%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Evercore reissued an “outperform” rating and set a $65.00 price objective on shares of Federated Hermes in a research report on Monday, August 10th. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Monday, November 2nd. TD Cowen boosted their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, November 2nd. Finally, Royal Bank Of Canada upped their target price on shares of Federated Hermes from $60.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.80.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FHI. Root Financial Partners LLC acquired a new stake in shares of Federated Hermes in the third quarter valued at about $32,000. Gen Wealth Partners Inc bought a new stake in Federated Hermes during the third quarter worth about $33,000. Richardson Financial Services Inc. boosted its position in Federated Hermes by 125.1% during the third quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock valued at $42,000 after purchasing an additional 418 shares during the last quarter. Latitude Advisors LLC acquired a new position in Federated Hermes during the third quarter valued at approximately $43,000. Finally, Rockefeller Capital Management L.P. boosted its position in Federated Hermes by 24.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

About Federated Hermes

Federated Hermes, Inc is a global investment manager headquartered in Pittsburgh, Pennsylvania. Founded in 1955 as Federated Investors, the company adopted the Federated Hermes name in 2020, following its acquisition of London-based Hermes Investment Management.

The company offers investment strategies and services across money markets, equities, fixed income, multi-asset and alternative investments. Its products and services include mutual funds, separately managed accounts and institutional investment solutions, along with liquidity management and stewardship services.

Federated Hermes serves individual and institutional investors through financial intermediaries and directly in the United States, the United Kingdom and other international markets.