Federated Hermes, Inc. (NYSE:FHI - Get Free Report) CEO Saker Anwar Nusseibeh sold 8,950 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer directly owned 151,276 shares of the company's stock, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Federated Hermes Stock Performance
Shares of FHI stock opened at $57.61 on Wednesday. The stock has a 50-day moving average of $56.26 and a 200-day moving average of $54.56. Federated Hermes, Inc. has a one year low of $41.71 and a one year high of $59.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The stock has a market cap of $4.37 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 2.04 and a beta of 0.65.
Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $478.96 million during the quarter, compared to analysts' expectations of $475.22 million. During the same period in the prior year, the business earned $1.25 EPS. Federated Hermes's revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 5.1 earnings per share for the current year.
Federated Hermes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Federated Hermes's previous quarterly dividend of $0.34. Federated Hermes's dividend payout ratio (DPR) is currently 29.46%.
Wall Street Analyst Weigh In
FHI has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating for the company in a research note on Monday, May 4th. TD Cowen lowered their target price on Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Monday, May 4th. Evercore reissued an "outperform" rating and set a $59.00 target price on shares of Federated Hermes in a research note on Monday. Weiss Ratings reissued a "buy (b)" rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada lowered their target price on Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and a consensus price target of $55.00.
Check Out Our Latest Stock Analysis on FHI
Hedge Funds Weigh In On Federated Hermes
Several hedge funds have recently made changes to their positions in FHI. Jones Financial Companies Lllp grew its stake in shares of Federated Hermes by 236.0% during the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company's stock worth $362,000 after acquiring an additional 6,244 shares in the last quarter. United Services Automobile Association bought a new position in shares of Federated Hermes during the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Federated Hermes by 11.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company's stock worth $9,769,000 after acquiring an additional 24,960 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Federated Hermes by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 33,246 shares of the company's stock worth $1,474,000 after acquiring an additional 614 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Federated Hermes by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 11,744 shares of the company's stock worth $497,000 after acquiring an additional 547 shares in the last quarter. 75.94% of the stock is owned by institutional investors.
Federated Hermes Company Profile
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Get Free Report)
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.
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