1,301 Shares in Federated Hermes, Inc. (NYSE:FHI) Bought by Sound Income Strategies LLC

Sound Income Strategies LLC purchased a new stake in Federated Hermes, Inc. (NYSE:FHI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,301 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors have also added to or reduced their stakes in FHI. State of Alaska Department of Revenue raised its position in Federated Hermes by 3.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after buying an additional 275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Federated Hermes by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares during the period. GAMMA Investing LLC raised 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 last quarter. MBM Wealth Consultants LLC lifted its position in Federated Hermes by 6.8% during the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after purchasing an additional 474 shares during the period. Finally, James Investment Research Inc. boosted its holdings in Federated Hermes by 9.7% in the third quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock valued at $290,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $38.65 on Friday. 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 1 year low of $31.24 and a 1 year high of $43.92. The firm has a market capitalization of $3.16 billion, a PE ratio of 12.43, a P/E/G ratio of 1.39 and a beta of 1.16. The business’s 50 day moving average price is $40.93 and its 200-day moving average price is $37.73.

Federated Hermes (NYSE:FHI) last released 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 business had revenue of $408.46 million during 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%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, equities research analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $42.00 price objective (down previously from $49.00) on shares of Federated Hermes in a research note on Tuesday, January 7th. 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 report on Monday, October 28th. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, Evercore ISI raised their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Hold” and an average target price of $42.17.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes 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 transaction, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 29,280 shares of company stock worth $1,185,871. 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.