Van ECK Associates Corp grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 170.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,042 shares of the company’s stock after purchasing an additional 3,179 shares during the quarter. Van ECK Associates Corp’s holdings in Federated Hermes were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aviva PLC acquired a new stake in Federated Hermes during the third quarter worth approximately $1,530,000. Moody Lynn & Lieberson LLC acquired a new position in shares of Federated Hermes in the 4th quarter valued at $80,000. Ritholtz Wealth Management acquired a new position in shares of Federated Hermes in the 4th quarter valued at $376,000. Barclays PLC acquired a new position in shares of Federated Hermes in the 3rd quarter valued at $185,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Federated Hermes in the 4th quarter valued at $588,000. Institutional investors and hedge funds own 78.82% of the company’s stock.
Insider Buying and Selling
In related news, CEO Saker Anwar Nusseibeh sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $37.48, for a total value of $749,600.00. Following the sale, the chief executive officer now directly owns 236,569 shares in the company, valued at approximately $8,866,606.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Saker Anwar Nusseibeh sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $37.48, for a total value of $749,600.00. Following the completion of the transaction, the chief executive officer now owns 236,569 shares of the company’s stock, valued at approximately $8,866,606.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 985 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $39.39, for a total transaction of $38,799.15. Following the completion of the transaction, the insider now directly owns 46,854 shares of the company’s stock, valued at approximately $1,845,579.06. The disclosure for this sale can be found here. Insiders have sold 35,897 shares of company stock worth $1,373,128 in the last three months. Corporate insiders own 5.20% of the company’s stock.
Federated Hermes Price Performance
Federated Hermes (NYSE:FHI – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Federated Hermes had a net margin of 16.85% and a return on equity of 27.83%. The business had revenue of $382.20 million for the quarter, compared to analyst estimates of $390.85 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts forecast that Federated Hermes, Inc. will post 3.29 EPS for the current fiscal year.
Federated Hermes Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were given a $0.28 dividend. The ex-dividend date was Friday, May 5th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.02%. Federated Hermes’s payout ratio is currently 39.58%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on FHI. JPMorgan Chase & Co. raised shares of Federated Hermes from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $47.00 in a report on Tuesday, April 11th. StockNews.com assumed coverage on shares of Federated Hermes in a research report on Thursday. They issued a “buy” rating on the stock. Evercore ISI lifted their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Federated Hermes from $44.00 to $45.00 in a research report on Monday, May 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average price target of $42.40.
About Federated Hermes
Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.
Read More
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