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Federated Hermes (NYSE:FHI) Shares Gap Down to $38.24

Defense World ·  Jan 29, 2023 02:21

Federated Hermes, Inc. (NYSE:FHI – Get Rating)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $38.24, but opened at $37.08. Federated Hermes shares last traded at $37.09, with a volume of 136,911 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Federated Hermes from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft raised their price target on Federated Hermes from $42.00 to $44.00 in a research note on Wednesday, January 11th. Finally, StockNews.com assumed coverage on Federated Hermes in a research note on Wednesday, October 12th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and an average target price of $36.13.

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Federated Hermes Stock Up 1.2 %

The business has a 50-day simple moving average of $37.28 and a two-hundred day simple moving average of $35.19. 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 company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.54 and a beta of 1.03.

Federated Hermes (NYSE:FHI – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. Federated Hermes had a return on equity of 27.12% and a net margin of 16.57%. The company had revenue of $381.14 million during the quarter, compared to analysts' expectations of $373.91 million. As a group, equities analysts predict that Federated Hermes, Inc. will post 3.05 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 8th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 2.79%. Federated Hermes's dividend payout ratio is currently 40.60%.

Insider Activity

In other news, CFO Thomas R. Donahue sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $35.21, for a total value of $1,056,300.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Saker Anwar Nusseibeh sold 14,300 shares of the firm's stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $34.85, for a total value of $498,355.00. Following the completion of the transaction, the chief executive officer now directly owns 243,497 shares of the company's stock, valued at approximately $8,485,870.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas R. Donahue sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $35.21, for a total value of $1,056,300.00. Following the completion of the transaction, the chief financial officer now directly owns 544,630 shares of the company's stock, valued at $19,176,422.30. The disclosure for this sale can be found here. Insiders sold 96,328 shares of company stock valued at $3,524,104 in the last three months. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently bought and sold shares of the company. Wipfli Financial Advisors LLC purchased a new position in Federated Hermes in the 3rd quarter valued at approximately $30,000. CENTRAL TRUST Co increased its position in Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company's stock worth $50,000 after buying an additional 1,150 shares in the last quarter. Van ECK Associates Corp increased its position in Federated Hermes by 32.2% during the second quarter. Van ECK Associates Corp now owns 1,647 shares of the company's stock worth $52,000 after buying an additional 401 shares in the last quarter. Ronald Blue Trust Inc. increased its position in Federated Hermes by 158.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,716 shares of the company's stock worth $54,000 after buying an additional 1,053 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in Federated Hermes during the second quarter worth $66,000. 78.82% of the stock is owned by hedge funds and other institutional investors.

About Federated Hermes

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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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