Federated Hermes (NYSE:FHI) Shares Down 3.4% – What’s Next?

Federated Hermes, Inc. (NYSE:FHI) fell 3.4% on Tuesday . The company traded as low as $39.13 and last traded at $39.21. 78,039 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 417,957 shares. The stock had previously closed at $40.59.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group raised their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.50.

Federated Hermes Stock Performance

The company has a market cap of $3.23 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.19 and a beta of 1.15. The business has a fifty day moving average of $41.68 and a 200 day moving average of $37.23. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. On average, equities analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. Federated Hermes’s dividend payout ratio is presently 39.87%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of Federated Hermes by 3.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock valued at $336,000 after purchasing an additional 275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after purchasing an additional 340 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after purchasing an additional 643 shares in the last quarter. Finally, James Investment Research Inc. increased its stake in shares of Federated Hermes by 9.7% in the third quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock worth $290,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.