Allspring Global Investments Holdings LLC lessened its holdings in Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 16.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,458 shares of the company's stock after selling 859 shares during the period. Allspring Global Investments Holdings LLC's holdings in Federated Hermes were worth $147,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of FHI. Wipfli Financial Advisors LLC acquired a new stake in shares of Federated Hermes in the third quarter valued at approximately $30,000. Van ECK Associates Corp lifted its position in shares of Federated Hermes by 32.2% in the second quarter. Van ECK Associates Corp now owns 1,647 shares of the company's stock valued at $52,000 after acquiring an additional 401 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Federated Hermes by 158.8% in the third quarter. Ronald Blue Trust Inc. now owns 1,716 shares of the company's stock valued at $54,000 after acquiring an additional 1,053 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Federated Hermes during the second quarter valued at $66,000. Finally, Denali Advisors LLC acquired a new stake in shares of Federated Hermes during the second quarter valued at $108,000. 78.82% of the stock is currently owned by institutional investors and hedge funds.
Get Federated Hermes alerts:Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Federated Hermes in a research note on Wednesday, October 12th. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Federated Hermes from $42.00 to $44.00 in a report on Wednesday, January 11th. Finally, Royal Bank of Canada lifted their price target on shares of Federated Hermes from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has an average rating of "Hold" and an average price target of $36.13.
Insider Buying and Selling
In related news, CEO Saker Anwar Nusseibeh sold 14,300 shares of the company's stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $34.85, for a total transaction of $498,355.00. Following the completion of the transaction, the chief executive officer now owns 243,497 shares of the company's stock, valued at $8,485,870.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 14,300 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $34.85, for a total transaction of $498,355.00. Following the completion of the sale, the chief executive officer now owns 243,497 shares of the company's stock, valued at approximately $8,485,870.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas R. Donahue sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $35.21, for a total transaction of $1,056,300.00. Following the sale, the chief financial officer now directly owns 544,630 shares of the company's stock, valued at approximately $19,176,422.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,328 shares of company stock valued at $3,524,104. Insiders own 5.00% of the company's stock.Federated Hermes Price Performance
Federated Hermes stock opened at $38.68 on Friday. Federated Hermes, Inc. has a 1 year low of $27.88 and a 1 year high of $39.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.90 and a current ratio of 2.64. The firm has a 50 day moving average price of $37.26 and a 200 day moving average price of $35.15. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 14.12 and a beta of 1.03.
Federated Hermes (NYSE:FHI – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. Federated Hermes had a net margin of 18.05% and a return on equity of 25.31%. The firm had revenue of $381.14 million during the quarter, compared to analyst estimates of $373.91 million. Sell-side analysts predict that Federated Hermes, Inc. will post 2.87 earnings per share for the current year.
Federated Hermes Profile
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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.
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