Assenagon Asset Management S.A. Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Assenagon Asset Management S.A. lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 23.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 665,305 shares of the company’s stock after selling 206,885 shares during the period. Assenagon Asset Management S.A.’s holdings in Federated Hermes were worth $27,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fortis Advisors LLC acquired a new stake in shares of Federated Hermes during the 4th quarter valued at approximately $727,000. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 646 shares during the last quarter. DGS Capital Management LLC raised its holdings in Federated Hermes by 4.7% during the third quarter. DGS Capital Management LLC now owns 20,715 shares of the company’s stock worth $762,000 after purchasing an additional 931 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Federated Hermes during the third quarter worth $113,000. Finally, Sanctuary Advisors LLC acquired a new stake in Federated Hermes in the third quarter valued at $475,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on FHI. Royal Bank of Canada boosted 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. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. UBS Group increased their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI raised their price target on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four investment 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, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.17.

Insider Buying and Selling

In related news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their position. 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. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Down 0.6 %

FHI stock opened at $38.23 on Friday. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The stock has a market capitalization of $3.13 billion, a P/E ratio of 12.29, a PEG ratio of 0.99 and a beta of 1.16. The company has a 50 day moving average price of $41.44 and a two-hundred day moving average price of $37.50. 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 announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.24%. Federated Hermes’s payout ratio is currently 39.87%.

Federated Hermes Company 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.