Cape Investment Advisory Inc. Sells 901 Shares of Federated Hermes, Inc. (NYSE:FHI)

Cape Investment Advisory Inc. lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 22.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,192 shares of the company’s stock after selling 901 shares during the period. Cape Investment Advisory Inc.’s holdings in Federated Hermes were worth $131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHI. FMR LLC lifted its holdings in shares of Federated Hermes by 2.5% during the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after purchasing an additional 137,245 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Federated Hermes by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock worth $45,982,000 after purchasing an additional 92,643 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Federated Hermes by 13.1% during the third quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after purchasing an additional 90,900 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Federated Hermes by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after purchasing an additional 152,926 shares during the period. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

FHI stock opened at $38.76 on Monday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.00 and a beta of 1.16. The company has a quick ratio of 2.03, a current ratio of 2.70 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’s fifty day simple moving average is $39.17 and its 200 day simple moving average is $38.66.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.20%. Federated Hermes’s dividend payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Evercore ISI set a $44.00 price target on shares of Federated Hermes in a report on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Finally, Royal Bank of Canada dropped their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $42.17.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

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.