Federated Hermes, Inc. (NYSE:FHI) Shares Acquired by ABLE Financial Group LLC

ABLE Financial Group LLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 23.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,144 shares of the company’s stock after acquiring an additional 6,016 shares during the period. ABLE Financial Group LLC’s holdings in Federated Hermes were worth $1,145,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the last quarter. LSV Asset Management purchased a new stake in Federated Hermes in the second quarter valued at approximately $11,913,000. Assenagon Asset Management S.A. raised its position in Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after buying an additional 324,958 shares during the last quarter. AXA S.A. purchased a new position in Federated Hermes during the 2nd quarter worth approximately $6,200,000. Finally, Interval Partners LP lifted its stake in Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock valued at $14,804,000 after acquiring an additional 154,370 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FHI shares. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Thursday. Evercore ISI lifted their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insiders Place Their Bets

In other news, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the 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 completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Federated Hermes Price Performance

Shares of NYSE:FHI traded up $0.25 during trading on Friday, reaching $41.43. 60,510 shares of the company’s stock traded hands, compared to its average volume of 715,810. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a fifty-two week low of $31.08 and a fifty-two week high of $42.56. The company has a 50-day simple moving average of $36.87 and a 200-day simple moving average of $34.47. The firm has a market cap of $3.39 billion, a PE ratio of 13.34, a P/E/G ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. Federated Hermes’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. As a group, analysts predict that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s payout ratio is presently 39.87%.

Federated Hermes Company 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.