MetLife Investment Management LLC Sells 1,526 Shares of Federated Hermes, Inc. (NYSE:FHI)

MetLife Investment Management LLC lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 39,301 shares of the company’s stock after selling 1,526 shares during the period. MetLife Investment Management LLC’s holdings in Federated Hermes were worth $1,445,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank increased its stake in Federated Hermes by 11.9% during the 1st quarter. Comerica Bank now owns 41,010 shares of the company’s stock valued at $1,481,000 after purchasing an additional 4,346 shares in the last quarter. Mather Group LLC. purchased a new stake in Federated Hermes during the 2nd quarter valued at $47,000. CWM LLC raised its stake in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after buying an additional 19,530 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Federated Hermes by 4.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 28,476 shares of the company’s stock worth $936,000 after buying an additional 1,083 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Activity

In other news, insider Richard A. Novak sold 1,363 shares of the business’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 transaction, the insider now directly owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, 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. Insiders have sold 29,280 shares of company stock worth $1,185,871 in the last three months. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

FHI has been the subject of a number of research analyst reports. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Evercore ISI lifted 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. Finally, StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes Price Performance

NYSE FHI opened at $43.31 on Friday. The business’s fifty day moving average is $39.84 and its 200 day moving average is $35.77. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. 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 company has a market capitalization of $3.54 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.18 and a beta of 1.15.

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. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Sell-side analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

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.