Inlet Private Wealth LLC Sells 33,150 Shares of Federated Hermes, Inc. (NYSE:FHI)

Inlet Private Wealth LLC lessened its holdings in Federated Hermes, Inc. (NYSE:FHI) by 21.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 123,950 shares of the company’s stock after selling 33,150 shares during the period. Inlet Private Wealth LLC’s holdings in Federated Hermes were worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Headlands Technologies LLC increased its stake in Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares during the period. GAMMA Investing LLC raised its holdings in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares in the last quarter. Mather Group LLC. bought a new position in shares of Federated Hermes during the 2nd quarter worth approximately $47,000. Hexagon Capital Partners LLC boosted its stake in Federated Hermes by 30.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after buying an additional 317 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Up 0.9 %

Shares of NYSE FHI traded up $0.35 during midday trading on Thursday, hitting $38.36. The stock had a trading volume of 102,372 shares, compared to its average volume of 708,715. The firm has a market cap of $3.23 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $38.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The company’s 50-day simple moving average is $35.07 and its 200 day simple moving average is $34.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Research analysts anticipate that Federated Hermes, Inc. will post 3.63 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FHI has been the subject of several analyst reports. Evercore ISI lifted their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. TD Cowen reduced their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. UBS Group dropped their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada raised their target price on Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.80.

Federated Hermes Company 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.