Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,950 shares of the company’s stock after selling 33,150 shares during the quarter. Inlet Private Wealth LLC owned about 0.15% of Federated Hermes worth $4,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilman Hill Asset Management LLC bought a new position in Federated Hermes during the 3rd quarter valued at $202,000. Exchange Traded Concepts LLC boosted its stake in Federated Hermes by 19.0% during the third quarter. Exchange Traded Concepts LLC now owns 21,680 shares of the company’s stock valued at $797,000 after buying an additional 3,462 shares in the last quarter. CWM LLC boosted its stake in Federated Hermes by 74.7% during the third quarter. CWM LLC now owns 2,523 shares of the company’s stock valued at $93,000 after buying an additional 1,079 shares in the last quarter. Diversified Trust Co grew its holdings in Federated Hermes by 13.2% during the third quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock worth $293,000 after acquiring an additional 928 shares during the period. Finally, GAMMA Investing LLC raised its position 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 acquiring an additional 349 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Up 0.9 %

NYSE:FHI traded up $0.35 during trading hours on Thursday, hitting $38.36. 102,372 shares of the company’s stock traded hands, compared to its average volume of 708,715. Federated Hermes, Inc. has a twelve month low of $30.23 and a twelve month high of $38.36. The firm has a market cap of $3.23 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The stock’s fifty day moving average price is $35.07 and its two-hundred day moving average price is $34.10.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, research analysts expect that Federated Hermes, Inc. will post 3.63 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a $0.31 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio is presently 35.23%.

Insider Transactions at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

FHI has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. UBS Group cut their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada boosted their price objective on Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

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.