Alpha Omega Wealth Management LLC Lowers Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Alpha Omega Wealth Management LLC decreased its position in Federated Hermes, Inc. (NYSE:FHI) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,698 shares of the company’s stock after selling 269 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Federated Hermes were worth $4,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in Federated Hermes by 2.5% during the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares during the period. Geode Capital Management LLC boosted its holdings in Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock worth $45,982,000 after buying an additional 92,643 shares during the period. Two Sigma Advisers LP grew its stake in Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock valued at $28,953,000 after buying an additional 90,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after acquiring an additional 152,926 shares during the period. Finally, Algert Global LLC grew its position in shares of Federated Hermes by 1.0% in the third quarter. Algert Global LLC now owns 353,242 shares of the company’s stock valued at $12,989,000 after purchasing an additional 3,440 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the transaction, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,280 shares of company stock worth $986,421. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FHI shares. Evercore ISI increased their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $42.00 price target (down previously from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft restated 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, January 8th. Finally, Royal Bank of Canada cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and an average price target of $42.17.

Federated Hermes Trading Up 0.1 %

NYSE FHI opened at $39.77 on Friday. The stock has a 50-day moving average of $40.70 and a 200-day moving average of $37.94. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The firm has a market cap of $3.25 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 3.87 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.24 annualized dividend and a yield of 3.12%. Federated Hermes’s payout ratio is 39.87%.

Federated Hermes Company 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.