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

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Nusseibeh sold 5,700 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $65.10, for a total transaction of $371,070.00. Following the completion of the sale, the chief executive officer directly owned 138,546 shares in the company, valued at approximately $9,019,344.60. The trade was a 3.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Federated Hermes Trading Up 1.8%

Shares of Federated Hermes stock opened at $65.16 on Tuesday. Federated Hermes, Inc. has a 12-month low of $47.30 and a 12-month high of $67.38. The stock has a market capitalization of $4.86 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.67. The company has a 50-day simple moving average of $58.53 and a 200 day simple moving average of $57.70. The company has a quick ratio of 1.89, a current ratio of 2.48 and a debt-to-equity ratio of 0.27.

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

Federated Hermes Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FHI shares. TD Cowen lifted their target price on shares of Federated Hermes from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, November 2nd. Weiss Ratings upgraded Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 9th. Evercore restated an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price target on shares of Federated Hermes in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of “Hold” and a consensus price target of $60.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alberta Investment Management Corp acquired a new stake in Federated Hermes in the 3rd quarter valued at about $4,380,000. Hantz Financial Services Inc. raised its stake in shares of Federated Hermes by 40.0% in the third quarter. Hantz Financial Services Inc. now owns 1,043 shares of the company’s stock worth $59,000 after acquiring an additional 298 shares during the last quarter. Royce & Associates LP lifted its position in shares of Federated Hermes by 11.6% during the third quarter. Royce & Associates LP now owns 340,071 shares of the company’s stock worth $19,170,000 after purchasing an additional 35,352 shares in the last quarter. Danske Bank A S grew its stake in shares of Federated Hermes by 50,068.7% during the third quarter. Danske Bank A S now owns 150,506 shares of the company’s stock valued at $8,484,000 after purchasing an additional 150,206 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new stake in shares of Federated Hermes during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.