Dolores Dudiak Sells 999 Shares of Federated Hermes (NYSE:FHI) Stock

Key Points

  • CEO Saker Anwar Nusseibeh sold stock: on Nov. 19 he sold 4,461 shares at an average $47.85 for $213,458.85, reducing his stake by 2.69% to 161,578 shares (≈$7.73M); he also sold 15,000 shares on Nov. 3 at $48.54 for $728,100.
  • Quarterly results beat estimates: Federated Hermes reported Q3 EPS of $1.34 vs. $1.11 expected and revenue of $469.45M (up 14.9% year-over-year), with a 32.3% ROE and a 21.67% net margin.
  • Dividend and market view: the company pays a $0.34 quarterly dividend (annualized $1.36, yield 2.9%, payout ratio 28.39%), has a $3.69B market cap and a consensus analyst rating of “Moderate Buy” with an average price target of $49.67.

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) VP Dolores Dudiak sold 999 shares of the company's stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total value of $47,822.13. Following the completion of the sale, the vice president owned 88,223 shares of the company's stock, valued at $4,223,235.01. This represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Federated Hermes Trading Down 0.3%

Shares of Federated Hermes stock traded down $0.14 during trading on Friday, hitting $47.42. 80,405 shares of the company were exchanged, compared to its average volume of 749,459. The firm has a market capitalization of $3.68 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The firm's fifty day moving average price is $50.73 and its 200 day moving average price is $48.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm had revenue of $469.45 million during the quarter, compared to analysts' expectations of $442.67 million. During the same quarter in the previous year, the company earned $1.06 earnings per share. The business's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend




The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were given a $0.34 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. Federated Hermes's dividend payout ratio is currently 28.39%.

Analyst Ratings Changes

Several research analysts have weighed in on FHI shares. Royal Bank Of Canada lifted their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Federated Hermes in a report on Wednesday, October 8th. Cowen restated a "hold" rating on shares of Federated Hermes in a report on Tuesday, November 4th. Zacks Research upgraded shares of Federated Hermes from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.67.

Check Out Our Latest Research Report on FHI

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG raised its stake in Federated Hermes by 38.5% in the 1st quarter. Deutsche Bank AG now owns 24,213 shares of the company's stock valued at $987,000 after acquiring an additional 6,734 shares during the period. LPL Financial LLC boosted its holdings in shares of Federated Hermes by 373.9% during the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company's stock worth $3,729,000 after buying an additional 72,173 shares during the period. Mackenzie Financial Corp acquired a new position in Federated Hermes in the 1st quarter valued at about $214,000. LSV Asset Management raised its holdings in Federated Hermes by 27.1% in the 1st quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock valued at $45,136,000 after acquiring an additional 236,313 shares during the period. Finally, Paragon Capital Management Ltd acquired a new position in shares of Federated Hermes in the second quarter valued at approximately $218,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Company Profile

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].

Insider Buying or Selling at Federated Hermes?
Sign-up to receive InsiderTrades.com's daily insider buying and selling report for Federated Hermes and related companies.
Free Insider Buying and Selling Newsletter
Enter your email address below to receive InsiderTrades.com's daily insider buying and selling report.
From Our Partners

Most Read This Month

Recent Articles