Federated Hermes (NYSE:FHI) CEO Sells $513,193.00 in Stock

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares in the company, valued at $8,674,165.84. The trade was a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Federated Hermes Trading Up 1.1%

NYSE FHI opened at $57.97 on Friday. The stock’s 50-day simple moving average is $56.31 and its two-hundred day simple moving average is $54.70. Federated Hermes, Inc. has a twelve month low of $41.71 and a twelve month high of $59.05. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 2.05 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Research analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio (DPR) is currently 29.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MAI Capital Management increased its holdings in Federated Hermes by 86.7% during the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after purchasing an additional 221 shares during the period. Torren Management LLC purchased a new position in Federated Hermes during the 4th quarter valued at about $25,000. Root Financial Partners LLC increased its holdings in Federated Hermes by 71.0% during the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Federated Hermes by 145.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FHI. TD Cowen lowered their price objective on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.00.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.