Federated Hermes (NYSE:FHI) Stock Price Down 3.4% – Time to Sell?

Federated Hermes, Inc. (NYSE:FHI)’s stock price fell 3.4% during trading on Tuesday . The stock traded as low as $39.13 and last traded at $39.21. 78,039 shares changed hands during trading, a decline of 81% from the average session volume of 417,957 shares. The stock had previously closed at $40.59.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research report on Wednesday. UBS Group increased their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. 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 note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $42.00 target price (down from $49.00) on shares of Federated Hermes in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.17.

Federated Hermes Stock Performance

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 50 day moving average of $41.65 and a 200-day moving average of $37.30. The company has a market cap of $3.22 billion, a P/E ratio of 12.64, a PEG ratio of 1.19 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same quarter last year, the firm posted $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 anticipate that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.15%. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Activity

In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s 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 owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes 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 owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,280 shares of company stock worth $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of FHI. GAMMA Investing LLC increased its position in shares of 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 in the last quarter. DGS Capital Management LLC increased its position in Federated Hermes by 4.7% during the 3rd quarter. DGS Capital Management LLC now owns 20,715 shares of the company’s stock valued at $762,000 after buying an additional 931 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Federated Hermes in the third quarter valued at about $113,000. Sanctuary Advisors LLC acquired a new stake in Federated Hermes in the third quarter worth about $475,000. Finally, Passumpsic Savings Bank acquired a new position in shares of Federated Hermes during the third quarter valued at about $206,000. Hedge funds and other institutional investors own 75.94% 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.