Xponance Inc. Sells 810 Shares of Federated Hermes, Inc. (NYSE:FHI)

Xponance Inc. cut its position in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 5.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,218 shares of the company’s stock after selling 810 shares during the period. Xponance Inc.’s holdings in Federated Hermes were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. boosted its stake in Federated Hermes by 8.5% during the third quarter. Eqis Capital Management Inc. now owns 8,599 shares of the company’s stock valued at $285,000 after buying an additional 671 shares during the last quarter. Capital City Trust Co. FL boosted its stake in Federated Hermes by 2.0% during the third quarter. Capital City Trust Co. FL now owns 27,090 shares of the company’s stock valued at $898,000 after buying an additional 526 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in Federated Hermes by 158.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,716 shares of the company’s stock valued at $54,000 after buying an additional 1,053 shares during the last quarter. Inlet Private Wealth LLC boosted its stake in Federated Hermes by 2.4% during the third quarter. Inlet Private Wealth LLC now owns 171,350 shares of the company’s stock valued at $5,675,000 after buying an additional 4,000 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Federated Hermes during the third quarter valued at approximately $745,000. 78.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FHI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on Federated Hermes from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. StockNews.com assumed coverage on Federated Hermes in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised their price objective on Federated Hermes from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.50.

Insider Transactions at Federated Hermes

In other news, Vice Chairman Gordon J. Ceresino sold 20,000 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $37.95, for a total value of $759,000.00. Following the sale, the insider now directly owns 155,829 shares in the company, valued at $5,913,710.55. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Federated Hermes news, Vice Chairman Gordon J. Ceresino sold 20,000 shares of the firm’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $37.95, for a total transaction of $759,000.00. Following the transaction, the insider now directly owns 155,829 shares in the company, valued at approximately $5,913,710.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 4,618 shares of the firm’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $37.65, for a total value of $173,867.70. Following the transaction, the insider now owns 59,796 shares in the company, valued at $2,251,319.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,328 shares of company stock worth $3,524,104. 5.00% of the stock is currently owned by company insiders.

Federated Hermes Trading Down 1.0 %

Shares of NYSE FHI opened at $38.05 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.90 and a current ratio of 2.64. The business’s 50 day moving average price is $36.54 and its 200-day moving average price is $34.63. Federated Hermes, Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $39.82. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 13.89 and a beta of 1.03.

Federated Hermes (NYSE:FHI – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. Federated Hermes had a return on equity of 25.31% and a net margin of 18.05%. The firm had revenue of $381.14 million for the quarter, compared to the consensus estimate of $373.91 million. On average, sell-side analysts expect that Federated Hermes, Inc. will post 2.82 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 7th. This represents a $1.08 annualized dividend and a dividend yield of 2.84%. Federated Hermes’s payout ratio is 39.42%.

About Federated Hermes

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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.