Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. reduced its holdings in Federated Hermes, Inc. (NYSE:FHI) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,577 shares of the company’s stock after selling 2,675 shares during the quarter. Federated Hermes comprises 2.9% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Foundation Resource Management Inc.’s holdings in Federated Hermes were worth $17,084,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares in the last quarter. AXA S.A. purchased a new position in shares of Federated Hermes in the 2nd quarter worth about $6,200,000. Charles Schwab Investment Management Inc. lifted its position in Federated Hermes by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after buying an additional 152,926 shares in the last quarter. Barclays PLC lifted its holdings in shares of Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company’s stock valued at $7,930,000 after acquiring an additional 150,017 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Federated Hermes by 102.7% in the second quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock worth $9,308,000 after buying an additional 143,363 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 0.6 %

Shares of FHI stock opened at $38.14 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.19 and a beta of 1.16. The firm has a fifty day moving average of $41.51 and a 200-day moving average of $37.49. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.86 EPS. Federated Hermes’s revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Royal Bank of Canada upped 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 report on Monday, October 28th. Evercore ISI increased their price target on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.17.

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.