Federated Hermes, Inc. (NYSE:FHI) insider Richard A. Novak sold 1,101 shares of Federated Hermes stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $28.38, for a total transaction of $31,246.38. Following the completion of the transaction, the insider now directly owns 54,800 shares in the company, valued at approximately $1,555,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE FHI opened at $26.46 on Friday. Federated Hermes, Inc. has a 52-week low of $13.06 and a 52-week high of $38.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.71 and a current ratio of 2.43. The business has a fifty day moving average of $25.04 and a two-hundred day moving average of $23.83. The stock has a market cap of $2.63 billion, a PE ratio of 8.56, a PEG ratio of 0.67 and a beta of 1.17.
Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $364.46 million during the quarter, compared to analysts’ expectations of $349.61 million. Federated Hermes had a net margin of 21.72% and a return on equity of 28.99%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Analysts predict that Federated Hermes, Inc. will post 3.03 earnings per share for the current year.
The company also recently disclosed a None dividend, which was paid on Friday, November 13th. Stockholders of record on Friday, November 6th were issued a dividend of $1.27 per share. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, November 5th. Federated Hermes’s payout ratio is 40.15%.
Several large investors have recently bought and sold shares of the company. Neo Ivy Capital Management boosted its holdings in shares of Federated Hermes by 13.9% in the 3rd quarter. Neo Ivy Capital Management now owns 3,539 shares of the company’s stock worth $76,000 after acquiring an additional 432 shares in the last quarter. Freestone Capital Holdings LLC bought a new position in Federated Hermes in the 3rd quarter valued at $31,000. Murphy Pohlad Asset Management LLC boosted its stake in Federated Hermes by 0.9% in the third quarter. Murphy Pohlad Asset Management LLC now owns 191,796 shares of the company’s stock worth $4,125,000 after purchasing an additional 1,795 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Federated Hermes by 0.6% during the third quarter. Wells Fargo & Company MN now owns 292,517 shares of the company’s stock worth $6,293,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Simmons Bank increased its stake in shares of Federated Hermes by 2.3% in the third quarter. Simmons Bank now owns 83,775 shares of the company’s stock valued at $1,802,000 after buying an additional 1,855 shares in the last quarter. Institutional investors own 79.13% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Bank of America upped their price target on shares of Federated Hermes from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. cut Federated Hermes from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $29.00 in a research report on Friday, October 16th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Federated Hermes from $24.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday, November 11th. TheStreet raised shares of Federated Hermes from a “c+” rating to a “b-” rating in a report on Monday, October 26th. Finally, Zacks Investment Research cut shares of Federated Hermes from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Monday, October 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.17.
Federated Hermes Company Profile
Federated Hermes, Inc is a publicly owned asset management holding company. 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.
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