Saker Anwar Nusseibeh Sells 8,950 Shares of Federated Hermes (NYSE:FHI) Stock

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Federated Hermes Stock Performance

FHI stock opened at $57.48 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The company has a 50 day moving average price of $56.28 and a 200 day moving average price of $54.63. Federated Hermes, Inc. has a fifty-two week low of $41.71 and a fifty-two week high of $59.05. The stock has a market capitalization of $4.36 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. The firm had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. Federated Hermes’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. Analysts forecast that Federated Hermes, Inc. will post 5.1 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is presently 29.46%.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHI. AQR Capital Management LLC boosted its stake in shares of Federated Hermes by 1.7% during the 4th quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock worth $158,097,000 after buying an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Federated Hermes by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock worth $157,879,000 after buying an additional 12,348 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Federated Hermes by 29.6% during the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after buying an additional 670,643 shares during the last quarter. LSV Asset Management boosted its stake in shares of Federated Hermes by 20.4% during the 4th quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock worth $150,497,000 after buying an additional 489,275 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Federated Hermes by 3,229.0% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock worth $137,992,000 after buying an additional 2,577,442 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore reiterated an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a research report on Monday. TD Cowen decreased their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Wall Street Zen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Hold” and a consensus price target of $55.00.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.