Federated Hermes, Inc. $FHI Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in Federated Hermes, Inc. (NYSE:FHI) by 74.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,925 shares of the company’s stock after purchasing an additional 13,238 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Federated Hermes were worth $1,371,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc purchased a new position in shares of Federated Hermes in the 2nd quarter valued at $44,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Federated Hermes by 22.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after acquiring an additional 287 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Federated Hermes in the 1st quarter valued at $72,000. GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 21.3% during the second quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $101,000 after buying an additional 401 shares during the period. Finally, Assetmark Inc. acquired a new stake in Federated Hermes during the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 4,461 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $213,458.85. Following the transaction, the chief executive officer directly owned 161,578 shares of the company’s stock, valued at approximately $7,731,507.30. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard A. Novak sold 1,249 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $59,764.65. Following the sale, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 21,709 shares of company stock worth $1,049,146 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Federated Hermes Stock Performance

Federated Hermes stock opened at $50.34 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $54.42. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The stock’s 50-day moving average is $50.38 and its 200-day moving average is $48.49.

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

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, November 7th. Federated Hermes’s dividend payout ratio is currently 28.39%.

Wall Street Analysts Forecast Growth

FHI has been the subject of several recent analyst reports. TD Cowen raised their price target on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Royal Bank Of Canada boosted their target price 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. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Federated Hermes 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.