Cornercap Investment Counsel Inc. Trims Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 51.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,008 shares of the company’s stock after selling 16,811 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Federated Hermes were worth $589,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its position in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares in the last quarter. LSV Asset Management acquired a new position in shares of Federated Hermes in the 2nd quarter valued at $11,913,000. Assenagon Asset Management S.A. boosted its holdings in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after buying an additional 324,958 shares in the last quarter. AXA S.A. acquired a new stake in Federated Hermes during the second quarter valued at $6,200,000. Finally, Interval Partners LP increased its holdings in Federated Hermes by 60.4% in the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock valued at $14,804,000 after buying an additional 154,370 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada upped their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $42.18 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes, Inc. has a 1 year low of $31.08 and a 1 year high of $42.56. The firm has a market capitalization of $3.45 billion, a PE ratio of 13.56, a P/E/G ratio of 1.17 and a beta of 1.15. The business’s 50 day moving average price is $37.92 and its 200-day moving average price is $34.84.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, equities research analysts expect that Federated Hermes, Inc. will post 3.83 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.