Y Intercept Hong Kong Ltd Sells 12,658 Shares of Federated Hermes, Inc. (NYSE:FHI)

Y Intercept Hong Kong Ltd lessened its position in Federated Hermes, Inc. (NYSE:FHI) by 33.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,876 shares of the company’s stock after selling 12,658 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Federated Hermes were worth $915,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in Federated Hermes by 3.1% in the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after purchasing an additional 275 shares during the last quarter. UMB Bank n.a. boosted its holdings in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Federated Hermes by 2.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after acquiring an additional 340 shares during the last quarter. GAMMA Investing LLC increased its stake in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Federated Hermes by 23.3% during the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after purchasing an additional 643 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FHI shares. Evercore ISI raised their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. 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 note on Monday, October 28th. Finally, UBS Group boosted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following 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 represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction dated 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 directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is currently owned by insiders.

Federated Hermes Stock Down 0.2 %

Shares of FHI stock opened at $42.64 on Friday. The stock’s fifty day moving average price is $40.43 and its 200 day moving average price is $36.12. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. 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 (NYSE:FHI) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 company posted $0.86 earnings per share. On average, research analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.91%. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

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.