Horizon Kinetics Asset Management LLC Sells 1,436 Shares of Federated Hermes, Inc. (NYSE:FHI)

Horizon Kinetics Asset Management LLC decreased its position in Federated Hermes, Inc. (NYSE:FHI) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,096 shares of the company’s stock after selling 1,436 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Federated Hermes were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its stake in Federated Hermes by 33.2% in the 4th quarter. Corient Private Wealth LLC now owns 53,892 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,439 shares in the last quarter. Globeflex Capital L P bought a new position in Federated Hermes during the 4th quarter valued at about $399,000. First National Trust Co lifted its stake in Federated Hermes by 12.8% during the 4th quarter. First National Trust Co now owns 12,174 shares of the company’s stock valued at $500,000 after acquiring an additional 1,385 shares during the period. Vestcor Inc lifted its stake in Federated Hermes by 5.5% during the 4th quarter. Vestcor Inc now owns 157,884 shares of the company’s stock valued at $6,491,000 after acquiring an additional 8,259 shares during the period. Finally, Avantax Planning Partners Inc. lifted its stake in Federated Hermes by 14.9% during the 4th quarter. Avantax Planning Partners Inc. now owns 8,040 shares of the company’s stock valued at $331,000 after acquiring an additional 1,040 shares during the period. Institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction 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. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $39.57 on Tuesday. The firm’s 50 day moving average price is $38.62 and its 200-day moving average price is $39.03. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.22 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

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

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, February 7th. Federated Hermes’s payout ratio is 38.87%.

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.