Quest Partners LLC Trims Holdings in Federated Hermes, Inc. (NYSE:FHI)

Quest Partners LLC cut its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 37.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,497 shares of the company’s stock after selling 31,538 shares during the quarter. Quest Partners LLC’s holdings in Federated Hermes were worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FHI. Vanguard Group Inc. grew its stake in Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after acquiring an additional 45,214 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after purchasing an additional 1,261,097 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares during the period. Millennium Management LLC increased its stake in Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after purchasing an additional 10,552 shares during the last quarter. Finally, Interval Partners LP lifted its position in Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after buying an additional 154,370 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insiders Place Their Bets

In other news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on FHI. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday. UBS Group increased their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Evercore ISI increased their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes Price Performance

Federated Hermes stock opened at $42.19 on Tuesday. The firm has a fifty day moving average of $38.09 and a 200-day moving average of $34.94. Federated Hermes, Inc. has a 52-week low of $31.08 and a 52-week high of $42.56. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.45 billion, a P/E ratio of 13.57, a PEG ratio of 1.17 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. As a group, analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Federated Hermes Profile

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.