Hardy Reed LLC Invests $205,000 in Federated Hermes, Inc. (NYSE:FHI)

Hardy Reed LLC acquired a new position in Federated Hermes, Inc. (NYSE:FHI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,990 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Federated Hermes in the fourth quarter worth $43,000. Sound Income Strategies LLC acquired a new stake in shares of Federated Hermes in the fourth quarter worth $53,000. Neo Ivy Capital Management acquired a new stake in shares of Federated Hermes in the third quarter worth $60,000. GAMMA Investing LLC increased its stake in shares of Federated Hermes by 60.9% in the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after acquiring an additional 646 shares during the period. Finally, CWM LLC increased its stake in shares of Federated Hermes by 74.7% in the third quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after acquiring an additional 1,079 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group increased their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. 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. Finally, Royal Bank of Canada lowered their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.00.

Federated Hermes Stock Performance

NYSE:FHI opened at $38.54 on Thursday. The company’s 50-day moving average price is $39.67 and its 200-day moving average price is $38.34. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.15 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.00 and a beta of 1.16. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, sell-side analysts forecast that Federated Hermes, Inc. will post 4.09 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio is currently 38.87%.

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.