Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Federated Hermes, Inc. (NYSE:FHI) by 32.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,174 shares of the company’s stock after selling 84,133 shares during the period. Principal Financial Group Inc.’s holdings in Federated Hermes were worth $6,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Federated Hermes during the second quarter valued at approximately $47,000. CWM LLC increased its position in shares of Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares during the period. UMB Bank n.a. raised 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 worth $47,000 after acquiring an additional 296 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock worth $64,000 after purchasing an additional 1,117 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FHI shares. Evercore ISI upped 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. StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday. UBS Group boosted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Stock Performance

NYSE FHI opened at $41.28 on Wednesday. Federated Hermes, Inc. has a 1-year low of $31.08 and a 1-year high of $42.56. The company has a 50 day moving average of $38.23 and a 200-day moving average of $35.00. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.17 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last announced its 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. The company had revenue of $408.46 million for 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%. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.00%. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

About Federated Hermes

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.