Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,217 shares of the company’s stock after selling 1,100 shares during the quarter. Swiss National Bank owned approximately 0.19% of Federated Hermes worth $5,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares during the period. LSV Asset Management purchased a new stake in Federated Hermes in the 2nd quarter valued at about $11,913,000. Assenagon Asset Management S.A. grew its holdings in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after buying an additional 324,958 shares during the period. AXA S.A. purchased a new stake in Federated Hermes in the 2nd quarter valued at about $6,200,000. Finally, Factorial Partners LLC purchased a new stake in Federated Hermes in the 2nd quarter valued at about $4,726,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the transaction, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

FHI has been the subject of several recent analyst reports. UBS Group lifted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Evercore ISI boosted their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.33.

Federated Hermes Stock Performance

Federated Hermes stock opened at $42.86 on Thursday. The stock’s 50 day moving average price is $39.11 and its 200 day moving average price is $35.38. The firm has a market capitalization of $3.51 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. Federated Hermes, Inc. has a one year low of $31.08 and a one year high of $43.23.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. 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.