Peter J. Germain Sells 2,380 Shares of Federated Hermes, Inc. (NYSE:FHI) Stock

Federated Hermes, Inc. (NYSE:FHI – Get Rating) EVP Peter J. Germain sold 2,380 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $35.47, for a total transaction of $84,418.60. Following the transaction, the executive vice president now owns 205,095 shares of the company’s stock, valued at approximately $7,274,719.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded up $0.76 during midday trading on Friday, reaching $36.06. The company had a trading volume of 1,032,645 shares, compared to its average volume of 879,334. The company’s 50 day moving average price is $39.93 and its 200 day moving average price is $38.67. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.23 billion, a P/E ratio of 12.47 and a beta of 1.05. Federated Hermes, Inc. has a 52-week low of $28.69 and a 52-week high of $45.55.

Federated Hermes (NYSE:FHI – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $382.20 million for the quarter, compared to the consensus estimate of $390.85 million. Federated Hermes had a net margin of 16.85% and a return on equity of 27.83%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.28 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.11%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, May 5th. Federated Hermes’s dividend payout ratio is 39.58%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FHI. Schneider Downs Wealth Management Advisors LP lifted its stake in Federated Hermes by 39.2% in the fourth quarter. Schneider Downs Wealth Management Advisors LP now owns 4,504,318 shares of the company’s stock worth $163,552,000 after acquiring an additional 1,269,097 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Federated Hermes during the first quarter valued at $28,723,000. Invesco Ltd. increased its holdings in shares of Federated Hermes by 61.0% during the first quarter. Invesco Ltd. now owns 1,822,046 shares of the company’s stock valued at $62,060,000 after acquiring an additional 690,423 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Federated Hermes during the first quarter valued at $20,889,000. Finally, BlackRock Inc. increased its holdings in shares of Federated Hermes by 3.7% during the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after acquiring an additional 466,504 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FHI. Deutsche Bank Aktiengesellschaft raised their target price on shares of Federated Hermes from $44.00 to $45.00 in a research note on Monday, May 1st. StockNews.com initiated coverage on shares of Federated Hermes in a research report on Thursday, May 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Federated Hermes from an “underweight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $47.00 in a report on Tuesday, April 11th. Finally, Evercore ISI raised their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.40.

Federated Hermes Company Profile

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Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.