Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 0.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 418,252 shares of the company’s stock after selling 651 shares during the quarter. Federated Hermes comprises about 2.4% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 15th biggest position. Foundation Resource Management Inc.’s holdings in Federated Hermes were worth $15,379,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FHI. CWM LLC lifted its holdings in shares of Federated Hermes by 74.7% in the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after acquiring an additional 1,079 shares during the last quarter. Diversified Trust Co increased its holdings in Federated Hermes by 13.2% in the 3rd quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock valued at $293,000 after purchasing an additional 928 shares during the last quarter. GAMMA Investing LLC raised its position in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares during the period. Handelsbanken Fonder AB lifted its stake in Federated Hermes by 12.8% during the third quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock worth $745,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Federated Hermes by 34.2% during the second quarter. Algert Global LLC now owns 349,802 shares of the company’s stock worth $11,501,000 after buying an additional 89,140 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FHI. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. UBS Group cut their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. TD Cowen lowered their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada increased their target price on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Federated Hermes Stock Up 1.8 %

Shares of NYSE:FHI opened at $36.68 on Friday. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $37.43. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $34.76 and its 200-day simple moving average is $34.08. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.41 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same period in the prior year, the business posted $0.81 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities research analysts predict that Federated Hermes, Inc. will post 3.63 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.38%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio (DPR) is 42.61%.

Insiders Place Their Bets

In related news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.