Wedge Capital Management L L P NC Sells 3,168 Shares of Federated Hermes, Inc. (NYSE:FHI)

Wedge Capital Management L L P NC lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 11.8% in the 4th quarter, Holdings Channel reports. The firm owned 23,598 shares of the company’s stock after selling 3,168 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Federated Hermes were worth $970,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FHI. American Century Companies Inc. lifted its stake in Federated Hermes by 112.4% in the second quarter. American Century Companies Inc. now owns 56,333 shares of the company’s stock worth $1,852,000 after purchasing an additional 29,814 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Federated Hermes by 27.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,972 shares of the company’s stock worth $624,000 after acquiring an additional 4,117 shares during the period. Hsbc Holdings PLC increased its position in shares of Federated Hermes by 25.4% during the second quarter. Hsbc Holdings PLC now owns 22,567 shares of the company’s stock worth $743,000 after acquiring an additional 4,576 shares during the period. Pacer Advisors Inc. increased its position in shares of Federated Hermes by 36.7% during the second quarter. Pacer Advisors Inc. now owns 22,150 shares of the company’s stock worth $728,000 after acquiring an additional 5,942 shares during the period. Finally, Continental Advisors LLC increased its position in shares of Federated Hermes by 39.2% during the second quarter. Continental Advisors LLC now owns 184,967 shares of the company’s stock worth $6,082,000 after acquiring an additional 52,057 shares during the period. Institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FHI. Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. UBS Group lifted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $42.00 price objective (down from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. Finally, Evercore ISI lifted their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.17.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is owned by insiders.

Federated Hermes Stock Performance

Shares of FHI stock opened at $38.14 on Tuesday. The business’s fifty day simple moving average is $41.31 and its 200-day simple moving average is $37.61. 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 $31.24 and a 12-month high of $43.92. The company has a market cap of $3.12 billion, a PE ratio of 12.26, a PEG ratio of 0.99 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 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 during the quarter, compared to analysts’ expectations of $410.26 million. During the same period last year, the business posted $0.86 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

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.