City State Bank Decreases Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

City State Bank trimmed its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,361 shares of the company’s stock after selling 272 shares during the period. City State Bank’s holdings in Federated Hermes were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FHI. Los Angeles Capital Management LLC purchased a new position in shares of Federated Hermes during the second quarter valued at approximately $206,000. Acadian Asset Management LLC raised its holdings in shares of Federated Hermes by 23.3% during the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after purchasing an additional 643 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Federated Hermes by 134.9% during the second quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after purchasing an additional 1,117 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Federated Hermes by 112.4% during the second quarter. American Century Companies Inc. now owns 56,333 shares of the company’s stock valued at $1,852,000 after purchasing an additional 29,814 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Federated Hermes during the second quarter valued at approximately $120,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on FHI shares. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. UBS Group boosted their target price 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Stock Performance

FHI opened at $37.90 on Tuesday. The firm has a market cap of $3.10 billion, a P/E ratio of 12.19, a PEG ratio of 1.19 and a beta of 1.16. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a 50 day simple moving average of $41.55 and a two-hundred day simple moving average of $37.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

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

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 1,363 shares of the business’s 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 transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares in the company, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is currently owned by corporate insiders.

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.