Principal Financial Group Inc. Has $6.52 Million Stake in Federated Hermes, Inc. (NYSE:FHI)

Principal Financial Group Inc. reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 32.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,174 shares of the company’s stock after selling 84,133 shares during the quarter. Principal Financial Group Inc.’s holdings in Federated Hermes were worth $6,515,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares during the period. Neo Ivy Capital Management acquired a new stake in Federated Hermes during the third quarter valued at $60,000. Headlands Technologies LLC grew its stake in Federated Hermes by 134.9% in 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 in the last quarter. CWM LLC grew its stake in Federated Hermes by 74.7% in the third quarter. CWM LLC now owns 2,523 shares of the company’s stock valued at $93,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Federated Hermes in the 3rd quarter worth about $113,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on FHI shares. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. 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 research report on Thursday, November 7th. Finally, UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 6,311 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. 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 owned by company insiders.

Federated Hermes Stock Performance

Shares of FHI opened at $41.11 on Thursday. 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, Inc. has a one year low of $31.24 and a one year high of $43.92. The company’s fifty day moving average price is $41.57 and its 200 day moving average price is $37.01. The company has a market capitalization of $3.36 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.19 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, topping the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million during 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 firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.02%. Federated Hermes’s payout ratio is 39.87%.

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.