Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its stake in Federated Hermes, Inc. (NYSE:FHI) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,497 shares of the company’s stock after selling 31,538 shares during the period. Quest Partners LLC owned 0.07% of Federated Hermes worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after purchasing an additional 45,214 shares during the period. AQR Capital Management LLC grew its position in shares of Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after acquiring an additional 1,261,097 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares during the period. Millennium Management LLC raised its position in Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after purchasing an additional 10,552 shares during the last quarter. Finally, Interval Partners LP boosted 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 worth $14,804,000 after purchasing an additional 154,370 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Federated Hermes stock opened at $42.19 on Tuesday. The company has a market cap of $3.45 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. Federated Hermes, Inc. has a one year low of $31.08 and a one year high of $42.56. The business has a fifty day moving average of $38.09 and a two-hundred day moving average of $34.94. 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 announced 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. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter last year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

Wall Street Analyst Weigh In

FHI has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Evercore ISI lifted their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Buying and Selling

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following 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 trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.