Cornercap Investment Counsel Inc. Reduces Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,008 shares of the company’s stock after selling 16,811 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Federated Hermes were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FHI. Headlands Technologies LLC lifted its holdings in shares of Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after acquiring an additional 711 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares during the period. Mather Group LLC. bought a new position in shares of Federated Hermes during the second quarter valued at approximately $47,000. CWM LLC raised its holdings in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after buying an additional 1,311 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Stock Up 0.4 %

Shares of NYSE FHI opened at $42.18 on Friday. The stock has a market capitalization of $3.45 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12-month low of $31.08 and a 12-month high of $42.56. The stock’s fifty day simple moving average is $37.92 and its two-hundred day simple moving average is $34.84.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (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%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, analysts expect that Federated Hermes, Inc. will post 3.83 EPS for the current fiscal year.

Federated Hermes Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on FHI shares. Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, UBS Group raised their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction 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. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

About Federated Hermes

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.