Insider Selling: Federated Hermes (NYSE:FHI) CEO Sells 8,950 Shares of Stock

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the transaction, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded up $0.66 during trading on Tuesday, hitting $57.61. 702,607 shares of the company were exchanged, compared to its average volume of 767,567. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a fifty-two week low of $41.71 and a fifty-two week high of $59.05. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.04 and a beta of 0.65. The firm has a 50 day moving average price of $56.23 and a 200 day moving average price of $54.49.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. During the same period in the previous year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts expect that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.38 dividend. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.6%. Federated Hermes’s payout ratio is presently 29.46%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Evercore reiterated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a report on Monday. JPMorgan Chase & Co. cut their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Finally, TD Cowen cut their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in shares of Federated Hermes by 1.7% during the 4th quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock worth $158,097,000 after buying an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Federated Hermes by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock worth $157,879,000 after buying an additional 12,348 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Federated Hermes by 29.6% during the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after buying an additional 670,643 shares during the last quarter. LSV Asset Management increased its holdings in shares of Federated Hermes by 20.4% during the 4th quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock worth $150,497,000 after buying an additional 489,275 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Federated Hermes by 3,229.0% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock worth $137,992,000 after buying an additional 2,577,442 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.