Thrivent Financial for Lutherans Cuts Stake in Federated Hermes, Inc. (NYSE:FHI)

Thrivent Financial for Lutherans trimmed its stake in Federated Hermes, Inc. (NYSE:FHI) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 255,473 shares of the company’s stock after selling 901 shares during the quarter. Thrivent Financial for Lutherans owned about 0.31% of Federated Hermes worth $9,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FHI. SG Americas Securities LLC grew its stake in shares of Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after buying an additional 19,530 shares during the period. Tidal Investments LLC purchased a new stake in Federated Hermes during the first quarter valued at about $1,419,000. Assenagon Asset Management S.A. increased its stake in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after acquiring an additional 324,958 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Federated Hermes by 102.7% in the 2nd quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock worth $9,308,000 after purchasing an additional 143,363 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insiders Place Their Bets

In other news, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the sale, the vice president now directly owns 310,767 shares in the company, valued at $12,862,646.13. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock valued at $1,185,871 in the last quarter. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

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

Federated Hermes Trading Up 0.7 %

NYSE:FHI opened at $41.71 on Friday. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.15 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 company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The business’s 50-day simple moving average is $38.53 and its 200 day simple moving average is $35.09.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same period in the prior year, the company posted $0.86 EPS. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

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.