Foundation Resource Management Inc. Sells 2,675 Shares of Federated Hermes, Inc. (NYSE:FHI)

Foundation Resource Management Inc. lessened its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,577 shares of the company’s stock after selling 2,675 shares during the quarter. Federated Hermes comprises 2.9% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Foundation Resource Management Inc. owned about 0.51% of Federated Hermes worth $17,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in FHI. FMR LLC lifted its stake in Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after acquiring an additional 137,245 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $45,982,000 after buying an additional 92,643 shares during the period. Millennium Management LLC increased its holdings in shares of Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after purchasing an additional 10,552 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Federated Hermes by 13.1% in the third quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock valued at $28,953,000 after purchasing an additional 90,900 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the sale, the vice president now directly owns 310,767 shares of the company’s stock, valued at approximately $12,862,646.13. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FHI. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Evercore ISI boosted their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Royal Bank of Canada increased their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, UBS Group lifted their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $38.14 on Wednesday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16. The stock has a 50 day moving average price of $41.51 and a 200-day moving average price of $37.49. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Equities analysts expect that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 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.