Federated Hermes (NYSE:FHI) Stock: Insider Saker Anwar Nusseibeh Sells 5,700 Shares

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Nusseibeh sold 5,700 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $65.10, for a total value of $371,070.00. Following the transaction, the chief executive officer directly owned 138,546 shares of the company’s stock, valued at approximately $9,019,344.60. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Federated Hermes Stock Up 0.9%

Shares of FHI opened at $65.53 on Wednesday. The company has a market capitalization of $4.84 billion, a PE ratio of 11.72, a PEG ratio of 1.87 and a beta of 0.67. Federated Hermes, Inc. has a 12 month low of $47.30 and a 12 month high of $67.38. The stock’s 50-day moving average price is $58.56 and its two-hundred day moving average price is $57.76. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.27.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. The company had revenue of $507.33 million during the quarter, compared to analysts’ expectations of $504.91 million. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. On average, analysts anticipate that Federated Hermes, Inc. will post 5.56 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 6th. Federated Hermes’s dividend payout ratio is currently 27.44%.

Institutional Trading of Federated Hermes

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in shares of Federated Hermes by 23.9% during the 3rd quarter. Private Advisor Group LLC now owns 6,859 shares of the company’s stock valued at $387,000 after acquiring an additional 1,322 shares during the period. Composition Wealth LLC boosted its stake in Federated Hermes by 18.5% during the third quarter. Composition Wealth LLC now owns 6,781 shares of the company’s stock worth $382,000 after acquiring an additional 1,059 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Federated Hermes in the third quarter worth $3,304,000. Edgestream Partners L.P. acquired a new stake in Federated Hermes in the third quarter worth $312,000. Finally, Alberta Investment Management Corp bought a new stake in Federated Hermes in the third quarter valued at $4,380,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Ratings Changes

FHI has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Federated Hermes from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Monday. TD Cowen boosted their target price on shares of Federated Hermes from $56.00 to $62.00 and gave the company a “hold” rating in a report on Monday, November 2nd. Evercore reaffirmed an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research report on Monday, August 10th. Royal Bank Of Canada increased their price target on Federated Hermes from $60.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.80.

About Federated Hermes

Federated Hermes, Inc. is a global investment manager headquartered in Pittsburgh, Pennsylvania. Founded in 1955 as Federated Investors, the company adopted the Federated Hermes name in 2020, following its acquisition of London-based Hermes Investment Management. The company offers investment strategies and services across money markets, equities, fixed income, multi-asset and alternative investments. Its products and services include mutual funds, separately managed accounts and institutional investment solutions, along with liquidity management and stewardship services.