State Street Corp Cuts Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

State Street Corp trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,874,827 shares of the company’s stock after selling 7,343 shares during the period. State Street Corp’s holdings in Federated Hermes were worth $68,937,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock valued at $336,000 after buying an additional 275 shares during the period. UMB Bank n.a. boosted its holdings in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after purchasing an additional 340 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Federated Hermes by 49.0% during 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 during the period. Finally, Acadian Asset Management LLC boosted 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 worth $111,000 after purchasing an additional 643 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $41.95 on Wednesday. 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 50 day simple moving average of $40.79 and a two-hundred day simple moving average of $36.37. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last announced its earnings results 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. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts expect that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is 39.87%.

Analyst Ratings Changes

A number of analysts have recently weighed in on FHI shares. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Evercore ISI increased their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price target 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. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, UBS Group increased their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Federated Hermes has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes 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.