Sound Income Strategies LLC Buys Shares of 1,301 Federated Hermes, Inc. (NYSE:FHI)

Sound Income Strategies LLC purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,301 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Federated Hermes by 112.4% during the second quarter. American Century Companies Inc. now owns 56,333 shares of the company’s stock worth $1,852,000 after buying an additional 29,814 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Federated Hermes by 25.4% in the 2nd quarter. Hsbc Holdings PLC now owns 22,567 shares of the company’s stock worth $743,000 after acquiring an additional 4,576 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Federated Hermes by 36.7% during the 2nd quarter. Pacer Advisors Inc. now owns 22,150 shares of the company’s stock worth $728,000 after purchasing an additional 5,942 shares during the period. Bank of Montreal Can increased its holdings in Federated Hermes by 102.7% in the 2nd quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock valued at $9,308,000 after purchasing an additional 143,363 shares during the last quarter. Finally, AXA S.A. purchased a new stake in Federated Hermes in the second quarter valued at approximately $6,200,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group raised their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $42.00 price target (down previously from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.17.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at $2,232,620.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Performance

Shares of FHI opened at $38.65 on Friday. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The stock has a market capitalization of $3.16 billion, a PE ratio of 12.43, a PEG ratio of 1.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The stock has a 50-day simple moving average of $40.93 and a 200-day simple moving average of $37.73.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $410.26 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

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.