Federated Hermes (NYSE:FHI) Insider Richard Novak Sells 1,249 Shares

Federated Hermes, Inc. (NYSE:FHI) insider Richard Novak sold 1,249 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the transaction, the insider owned 57,500 shares of the company’s stock, valued at approximately $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Federated Hermes Stock Performance

NYSE FHI traded down $0.59 on Thursday, hitting $47.45. 568,053 shares of the company’s stock traded hands, compared to its average volume of 752,573. The firm has a market capitalization of $3.68 billion, a PE ratio of 10.52, a P/E/G ratio of 0.54 and a beta of 0.83. The firm’s 50-day moving average price is $50.87 and its two-hundred day moving average price is $48.24. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.23. The company had revenue of $469.45 million for the quarter, compared to the consensus estimate of $442.67 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. As a group, analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. Federated Hermes’s dividend payout ratio (DPR) is presently 28.39%.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently made changes to their positions in FHI. MAI Capital Management grew its holdings in shares of Federated Hermes by 86.7% during the third quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after buying an additional 221 shares in the last quarter. AdvisorNet Financial Inc acquired a new position in Federated Hermes during the second quarter worth about $44,000. Farther Finance Advisors LLC boosted its position in Federated Hermes by 97.7% during the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after acquiring an additional 430 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Federated Hermes during the 2nd quarter valued at about $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Federated Hermes in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Royal Bank Of Canada increased their price target on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.67.

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.