258,800 Shares in Federated Hermes, Inc. (NYSE:FHI) Purchased by Norges Bank

Norges Bank acquired a new position in Federated Hermes, Inc. (NYSE:FHI) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 258,800 shares of the company’s stock, valued at approximately $10,639,000.

Several other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Federated Hermes in the fourth quarter worth approximately $43,000. Sound Income Strategies LLC purchased a new stake in Federated Hermes in the fourth quarter worth $53,000. Neo Ivy Capital Management bought a new stake in shares of Federated Hermes during the third quarter worth $60,000. GAMMA Investing LLC boosted its stake 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 valued at $70,000 after purchasing an additional 646 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Federated Hermes by 112.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock valued at $109,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FHI. Evercore ISI set a $44.00 price target on shares of Federated Hermes in a research note on Monday, February 3rd. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 1st. Royal Bank of Canada lowered their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Finally, UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.17.

Federated Hermes Stock Down 0.8 %

Shares of NYSE FHI opened at $35.86 on Wednesday. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The stock’s fifty day simple moving average is $38.92 and its two-hundred day simple moving average is $39.55. The stock has a market capitalization of $2.92 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.46%. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Federated Hermes 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.