Murphy Pohlad Asset Management LLC Cuts Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Murphy Pohlad Asset Management LLC cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,546 shares of the company’s stock after selling 1,800 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Federated Hermes were worth $3,146,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in shares of Federated Hermes by 267.9% in the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after acquiring an additional 19,530 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,419,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,542,000. Ontario Teachers Pension Plan Board increased its position in shares of Federated Hermes by 103.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock worth $2,121,000 after purchasing an additional 29,793 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after buying an additional 324,958 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FHI has been the topic of several research analyst reports. Evercore ISI raised their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group lifted their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. Finally, Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Federated Hermes has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was 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. Also, VP John B. Fisher sold 79,830 shares of the business’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 transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI stock opened at $40.54 on Friday. The business has a 50 day simple moving average of $36.46 and a 200 day simple moving average of $34.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.09. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. Federated Hermes, Inc. has a 12-month low of $31.08 and a 12-month high of $40.65.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping 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 firm had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 3.83 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.06%. Federated Hermes’s dividend payout ratio is currently 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.