Inlet Private Wealth LLC Decreases Stake in Federated Hermes, Inc. (NYSE:FHI)

Inlet Private Wealth LLC cut its stake in Federated Hermes, Inc. (NYSE:FHI) by 36.5% in the fourth quarter, Holdings Channel reports. The firm owned 78,650 shares of the company’s stock after selling 45,300 shares during the period. Inlet Private Wealth LLC’s holdings in Federated Hermes were worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FHI. Charles Schwab Investment Management Inc. grew its holdings in shares of Federated Hermes by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after buying an additional 152,926 shares during the last quarter. Barclays PLC lifted its position in Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after acquiring an additional 150,017 shares during the period. FMR LLC grew its stake in Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Federated Hermes by 387.6% in the third quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock valued at $5,867,000 after purchasing an additional 126,840 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Federated Hermes by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock worth $45,982,000 after purchasing an additional 92,643 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. The trade was a 6.35 % 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, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now owns 53,837 shares of the company’s stock, valued at $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,280 shares of company stock valued at $986,421. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FHI shares. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI increased their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $42.00 target price (down previously from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.17.

Federated Hermes Stock Up 0.1 %

FHI opened at $39.77 on Friday. The company has a fifty day moving average of $40.70 and a two-hundred day moving average of $37.94. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.46 and a beta of 1.16. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. On average, research analysts expect that Federated Hermes, Inc. will post 3.87 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.12%. Federated Hermes’s dividend payout ratio (DPR) is 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.