Insider Selling: Federated Hermes (NYSE:FHI) CEO Sells 4,461 Shares of Stock

Federated Hermes, Inc. (NYSE:FHI) CEO Saker Anwar Nusseibeh sold 4,461 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $213,458.85. Following the completion of the sale, the chief executive officer owned 161,578 shares of the company’s stock, valued at approximately $7,731,507.30. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Saker Anwar Nusseibeh also recently made the following trade(s):

• On Monday, November 3rd, Saker Anwar Nusseibeh sold 15,000 shares of Federated Hermes stock. The stock was sold at an average price of $48.54, for a total value of $728,100.00.

Federated Hermes Stock Performance

Shares of FHI stock traded down $0.59 during trading on Thursday, hitting $47.45. The company’s stock had a trading volume of 568,053 shares, compared to its average volume of 752,573. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.68 billion, a PE ratio of 10.52, a P/E/G ratio of 0.54 and a beta of 0.83. The business has a fifty day moving average of $50.87 and a 200-day moving average of $48.24. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $54.42.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. The business had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.Federated Hermes’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s payout ratio is 28.39%.

Analyst Ratings Changes

Several equities analysts have weighed in on FHI shares. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. TD Cowen increased their price target on Federated Hermes from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Evercore ISI boosted their price objective on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently made changes to their positions in FHI. MAI Capital Management boosted its stake in Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after purchasing an additional 221 shares during the period. AdvisorNet Financial Inc bought a new stake in shares of Federated Hermes during the second quarter valued at about $44,000. Farther Finance Advisors LLC lifted its holdings in shares of Federated Hermes by 97.7% in the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after buying an additional 430 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Federated Hermes in the second quarter valued at approximately $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Federated Hermes during the second quarter valued at approximately $56,000. 75.94% of the stock is currently owned by institutional investors.

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.