Citigroup Inc. reduced its position in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 33.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,730 shares of the company’s stock after selling 8,540 shares during the period. Citigroup Inc.’s holdings in Federated Hermes were worth $567,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Federated Hermes by 69.9% in the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after buying an additional 343 shares during the period. Quarry LP acquired a new stake in shares of Federated Hermes in the 2nd quarter valued at $29,000. Pinebridge Investments L.P. bought a new position in shares of Federated Hermes in the 2nd quarter worth $37,000. CENTRAL TRUST Co boosted its position in shares of Federated Hermes by 310.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock worth $50,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Federated Hermes in the 2nd quarter worth $51,000. 76.65% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Federated Hermes
In related news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the sale, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. Novak sold 908 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares in the company, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,435 shares of company stock valued at $4,092,831. 5.20% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. UBS Group assumed coverage on Federated Hermes in a research report on Friday, January 5th. They issued a “neutral” rating and a $35.00 price target on the stock. TD Cowen assumed coverage on Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada lifted their target price on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.
Read Our Latest Stock Report on FHI
Federated Hermes Stock Performance
Shares of Federated Hermes stock opened at $35.41 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The stock’s 50-day moving average is $35.29 and its 200-day moving average is $33.88. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $45.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89.
Federated Hermes (NYSE:FHI – Get Free Report) last issued its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. Equities analysts predict that Federated Hermes, Inc. will post 3.64 earnings per share for the current fiscal year.
Federated Hermes Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.16%. Federated Hermes’s dividend payout ratio (DPR) is 32.84%.
About Federated Hermes
(Free Report)
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.
Further Reading
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