Key Points
- Federated Hermes CEO Saker Nusseibeh sold 5,700 shares for $371,070, reducing his ownership by 3.95%; he retained 138,546 shares worth about $9.0 million.
- The company beat quarterly estimates, reporting EPS of $1.50 versus $1.42 expected and revenue of $507.3 million, up 8.1% year over year. It also declared a $0.38 quarterly dividend, equivalent to a 2.3% yield.
- Analysts have a consensus Hold rating and an average price target of $60.80; the stock was reported trading at $65.16.
Federated Hermes, Inc. (NYSE:FHI - Get Free Report) CEO Saker Nusseibeh sold 5,700 shares of Federated Hermes stock in a transaction on Monday, November 9th. The shares were sold at an average price of $65.10, for a total value of $371,070.00. Following the completion of the sale, the chief executive officer directly owned 138,546 shares of the company's stock, valued at $9,019,344.60. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Federated Hermes Trading Up 1.8%
FHI stock opened at $65.16 on Tuesday. The company has a market cap of $4.86 billion, a P/E ratio of 11.86, a PEG ratio of 1.89 and a beta of 0.67. Federated Hermes, Inc. has a twelve month low of $47.30 and a twelve month high of $67.38. The company has a quick ratio of 1.89, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $58.53 and a 200-day moving average of $57.70.
Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.08. The business had revenue of $507.33 million for the quarter, compared to analyst estimates of $504.91 million. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, equities research analysts expect that Federated Hermes, Inc. will post 5.56 EPS for the current year.
Federated Hermes Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 6th. Federated Hermes's payout ratio is currently 27.44%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Evercore restated an "outperform" rating and set a $65.00 target price on shares of Federated Hermes in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Federated Hermes from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 9th. Wall Street Zen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. Finally, Zacks Research lowered shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $60.80.
View Our Latest Stock Report on FHI
Institutional Investors Weigh In On Federated Hermes
A number of institutional investors have recently made changes to their positions in the stock. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in Federated Hermes during the 2nd quarter worth approximately $1,427,000. Morningstar Investment Management LLC grew its holdings in Federated Hermes by 82.6% during the first quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company's stock valued at $2,262,000 after purchasing an additional 18,047 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Federated Hermes in the second quarter valued at approximately $2,833,000. Congress Asset Management Co. increased its stake in Federated Hermes by 21.2% in the third quarter. Congress Asset Management Co. now owns 102,693 shares of the company's stock valued at $5,789,000 after purchasing an additional 17,992 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes in the third quarter worth $3,823,000. 75.94% of the stock is owned by institutional investors and hedge funds.
About Federated Hermes
(
Get Free Report)
Federated Hermes, Inc is a global investment manager headquartered in Pittsburgh, Pennsylvania. Founded in 1955 as Federated Investors, the company adopted the Federated Hermes name in 2020, following its acquisition of London-based Hermes Investment Management.
The company offers investment strategies and services across money markets, equities, fixed income, multi-asset and alternative investments. Its products and services include mutual funds, separately managed accounts and institutional investment solutions, along with liquidity management and stewardship services.
Federated Hermes serves individual and institutional investors through financial intermediaries and directly in the United States, the United Kingdom and other international markets.
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