Horizon Kinetics Asset Management LLC Has $976,000 Holdings in Federated Hermes, Inc. (NYSE:FHI)

Horizon Kinetics Asset Management LLC cut its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,532 shares of the company’s stock after selling 1,707 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Federated Hermes were worth $976,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Federated Hermes by 267.9% in the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after purchasing an additional 19,530 shares during the period. Tidal Investments LLC acquired a new stake in Federated Hermes in the 1st quarter valued at $1,419,000. Assenagon Asset Management S.A. raised its stake in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after acquiring an additional 324,958 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Federated Hermes by 102.7% during the second quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock valued at $9,308,000 after acquiring an additional 143,363 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHI has been the topic of several research analyst reports. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now directly owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock valued at $1,185,871 in the last 90 days. 3.70% of the stock is owned by company insiders.

Federated Hermes Price Performance

Federated Hermes stock opened at $42.61 on Tuesday. The business’s 50-day simple moving average is $38.82 and its 200 day simple moving average is $35.26. 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 stock has a market cap of $3.49 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.18 and a beta of 1.15. Federated Hermes, Inc. has a 12-month low of $31.08 and a 12-month high of $43.06.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping 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 company had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the company earned $0.86 EPS. Federated Hermes’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts anticipate that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.87%.

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.