Passumpsic Savings Bank Buys New Shares in Federated Hermes, Inc. (NYSE:FHI)

Passumpsic Savings Bank bought a new stake in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,597 shares of the company’s stock, valued at approximately $206,000.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the last quarter. LSV Asset Management bought a new stake in Federated Hermes in the 2nd quarter valued at $11,913,000. Assenagon Asset Management S.A. increased 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 acquiring an additional 324,958 shares during the last quarter. AXA S.A. bought a new stake in Federated Hermes in the 2nd quarter valued at $6,200,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Federated Hermes by 24.8% in 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 last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at $2,232,620.39. This represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Stock Up 1.1 %

NYSE:FHI opened at $42.80 on Wednesday. The firm has a market capitalization of $3.50 billion, a P/E ratio of 13.61, a PEG ratio of 1.19 and a beta of 1.15. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company’s fifty day moving average price is $40.18 and its 200-day moving average price is $36.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, November 8th. Federated Hermes’s payout ratio is 39.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FHI shares. Evercore ISI boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group boosted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.33.

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.