Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 566,407 shares of the company’s stock after selling 11,533 shares during the period. Commonwealth Equity Services LLC owned approximately 0.63% of Federated Hermes worth $20,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after purchasing an additional 466,504 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Federated Hermes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock worth $314,407,000 after buying an additional 73,168 shares during the last quarter. FMR LLC lifted its holdings in Federated Hermes by 5.7% during the 1st quarter. FMR LLC now owns 3,114,066 shares of the company’s stock worth $124,999,000 after buying an additional 166,960 shares during the last quarter. State Street Corp lifted its holdings in shares of Federated Hermes by 0.8% in the 1st quarter. State Street Corp now owns 2,898,040 shares of the company’s stock worth $116,327,000 after purchasing an additional 24,211 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Federated Hermes by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,310,809 shares of the company’s stock worth $82,844,000 after purchasing an additional 31,285 shares during the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 7,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $34.73, for a total transaction of $270,894.00. Following the completion of the sale, the chief executive officer now directly owns 185,634 shares in the company, valued at $6,447,068.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Federated Hermes from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 11th. JPMorgan Chase & Co. decreased their target price on Federated Hermes from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada cut their target price on Federated Hermes from $39.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Federated Hermes Stock Performance

FHI stock opened at $31.82 on Tuesday. The company has a 50 day moving average price of $33.08 and a 200 day moving average price of $34.66. The stock has a market capitalization of $2.74 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.09. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $45.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.78 and a quick ratio of 2.09.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $402.66 million during the quarter, compared to analyst estimates of $400.43 million. Federated Hermes had a net margin of 17.17% and a return on equity of 27.01%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. Analysts forecast that Federated Hermes, Inc. will post 3.28 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.12 dividend on an annualized basis and a yield of 3.52%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.04. Federated Hermes’s dividend payout ratio (DPR) is presently 36.36%.

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.