Radnor Capital Management LLC trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 1.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 62,525 shares of the company's stock after selling 800 shares during the period. Radnor Capital Management LLC's holdings in Federated Hermes were worth $1,988,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. City State Bank purchased a new stake in Federated Hermes during the 4th quarter valued at about $95,000. NN Investment Partners Holdings N.V. purchased a new stake in Federated Hermes during the 1st quarter valued at about $126,000. Covestor Ltd grew its stake in Federated Hermes by 35.0% during the 1st quarter. Covestor Ltd now owns 3,780 shares of the company's stock valued at $129,000 after purchasing an additional 980 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Federated Hermes during the 1st quarter valued at about $154,000. Finally, Duality Advisers LP purchased a new stake in shares of Federated Hermes in the first quarter worth about $202,000. Hedge funds and other institutional investors own 81.38% of the company's stock.
Get Federated Hermes alerts:Federated Hermes Price Performance
Shares of FHI stock traded down $0.49 during trading hours on Friday, reaching $33.83. The company had a trading volume of 3,802,414 shares, compared to its average volume of 522,439. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.84 and a current ratio of 2.71. The stock has a fifty day moving average of $34.32 and a 200-day moving average of $32.85. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 12.58 and a beta of 1.10. Federated Hermes, Inc. has a 12-month low of $27.88 and a 12-month high of $39.82.
Federated Hermes (NYSE:FHI – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.04. The business had revenue of $366.01 million during the quarter, compared to analyst estimates of $363.24 million. Federated Hermes had a return on equity of 24.12% and a net margin of 18.93%. The business's revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. On average, equities analysts anticipate that Federated Hermes, Inc. will post 2.79 earnings per share for the current year.Federated Hermes Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.19%. Federated Hermes's dividend payout ratio is currently 40.15%.
Insider Transactions at Federated Hermes
In other news, CEO Saker Anwar Nusseibeh sold 7,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $34.29, for a total value of $240,030.00. Following the sale, the chief executive officer now directly owns 272,814 shares in the company, valued at $9,354,792.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 33,736 shares of company stock worth $1,102,132 over the last ninety days. Company insiders own 5.00% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on FHI shares. StockNews.com downgraded Federated Hermes from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods upgraded Federated Hermes from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $32.00 to $40.00 in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft lowered their target price on Federated Hermes from $37.00 to $36.00 in a research note on Wednesday, July 13th. Finally, Royal Bank of Canada upped their price target on Federated Hermes from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.90.
About Federated Hermes
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Federated Hermes, Inc is a publicly owned asset management holding company. 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.
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