Elo Mutual Pension Insurance Co Invests $446,000 in Federated Hermes, Inc. (NYSE:FHI)

Elo Mutual Pension Insurance Co bought a new stake in Federated Hermes, Inc. (NYSE:FHI) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,844 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors have also recently bought and sold shares of FHI. Amalgamated Bank grew its position in shares of Federated Hermes by 1.0% in the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after purchasing an additional 313 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after purchasing an additional 340 shares during the period. MBM Wealth Consultants LLC grew its holdings in Federated Hermes by 6.8% in the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after buying an additional 474 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Federated Hermes by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock worth $914,000 after buying an additional 560 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after buying an additional 646 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI set a $44.00 price objective on shares of Federated Hermes in a research note on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Royal Bank of Canada cut their price objective on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Finally, UBS Group upped their price target on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $40.70 on Monday. The firm has a market cap of $3.31 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. The firm’s 50-day simple moving average is $38.95 and its 200-day simple moving average is $39.41. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month 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 2.70.

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

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

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.