Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,613 shares of the company’s stock after selling 1,447 shares during the period. Truist Financial Corp owned approximately 0.08% of Federated Hermes worth $2,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Win Advisors Inc. boosted its position in shares of Federated Hermes by 50.8% during the second quarter. Win Advisors Inc. now owns 900 shares of the company’s stock worth $29,000 after buying an additional 303 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in Federated Hermes in the third quarter worth approximately $30,000. Van ECK Associates Corp lifted its position in Federated Hermes by 32.2% in the second quarter. Van ECK Associates Corp now owns 1,647 shares of the company’s stock worth $52,000 after purchasing an additional 401 shares during the period. Ronald Blue Trust Inc. lifted its position in Federated Hermes by 158.8% in the third quarter. Ronald Blue Trust Inc. now owns 1,716 shares of the company’s stock worth $54,000 after purchasing an additional 1,053 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new stake in Federated Hermes in the second quarter worth approximately $66,000. 78.82% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $39.21 on Monday. Federated Hermes, Inc. has a one year low of $27.88 and a one year high of $39.29. The stock has a fifty day moving average of $36.82 and a 200-day moving average of $34.82. The company has a market capitalization of $3.49 billion, a PE ratio of 14.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.90 and a current ratio of 2.64.

Federated Hermes (NYSE:FHI – Get Rating) last announced its earnings results on Thursday, October 27th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. Federated Hermes had a net margin of 18.05% and a return on equity of 25.31%. The company had revenue of $381.14 million for the quarter, compared to the consensus estimate of $373.91 million. As a group, equities analysts anticipate that Federated Hermes, Inc. will post 2.87 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FHI shares. Royal Bank of Canada upped their target price on Federated Hermes from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 1st. StockNews.com started coverage on Federated Hermes in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Federated Hermes from $42.00 to $44.00 in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.10.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 14,300 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $34.85, for a total transaction of $498,355.00. Following the sale, the chief executive officer now directly owns 243,497 shares of the company’s stock, valued at approximately $8,485,870.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Thomas R. Donahue sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $35.21, for a total value of $1,056,300.00. Following the transaction, the chief financial officer now directly owns 544,630 shares of the company’s stock, valued at $19,176,422.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 14,300 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $34.85, for a total transaction of $498,355.00. Following the completion of the transaction, the chief executive officer now directly owns 243,497 shares in the company, valued at $8,485,870.45. The disclosure for this sale can be found here. Insiders have sold a total of 96,328 shares of company stock valued at $3,524,104 in the last three months. 5.00% of the stock is currently owned by company insiders.

Federated Hermes Profile

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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.