Richard A. Novak Sells 1,363 Shares of Federated Hermes, Inc. (NYSE:FHI) Stock

Federated Hermes, Inc. (NYSE:FHI) insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Federated Hermes Price Performance

Shares of FHI stock opened at $41.71 on Friday. The firm has a fifty day simple moving average of $38.53 and a 200-day simple moving average of $35.09. The company has a market capitalization of $3.41 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. Federated Hermes, Inc. has a twelve month low of $31.08 and a twelve month high of $42.56. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 2.97%. Federated Hermes’s dividend payout ratio is presently 39.87%.

Institutional Trading of Federated Hermes

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the last quarter. LSV Asset Management bought a new stake in Federated Hermes in the second quarter valued at about $11,913,000. Assenagon Asset Management S.A. raised its stake in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after buying an additional 324,958 shares in the last quarter. AXA S.A. bought a new position in Federated Hermes during the 2nd quarter worth approximately $6,200,000. Finally, Interval Partners LP grew its position in shares of Federated Hermes by 60.4% in the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after acquiring an additional 154,370 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analysts Set New Price Targets

FHI has been the topic of a number of research reports. Evercore ISI raised their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada upped their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

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.