Nuveen Asset Management LLC Has $18.63 Million Stake in Federated Hermes, Inc. (NYSE:FHI)

Nuveen Asset Management LLC trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 562,546 shares of the company’s stock after selling 2,843 shares during the quarter. Nuveen Asset Management LLC’s holdings in Federated Hermes were worth $18,631,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AlphaCrest Capital Management LLC acquired a new position in shares of Federated Hermes during the second quarter worth approximately $270,000. Aviva PLC acquired a new position in shares of Federated Hermes during the third quarter worth approximately $1,530,000. Foundation Resource Management Inc. raised its position in shares of Federated Hermes by 1.4% during the third quarter. Foundation Resource Management Inc. now owns 399,359 shares of the company’s stock worth $13,227,000 after purchasing an additional 5,506 shares during the period. Inlet Private Wealth LLC raised its position in shares of Federated Hermes by 2.4% during the third quarter. Inlet Private Wealth LLC now owns 171,350 shares of the company’s stock worth $5,675,000 after purchasing an additional 4,000 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Federated Hermes during the third quarter worth approximately $745,000. 78.82% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Trading Up 0.7 %

NYSE FHI opened at $40.05 on Friday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 15.06 and a beta of 1.05. The business has a fifty day simple moving average of $38.71 and a 200 day simple moving average of $36.16. Federated Hermes, Inc. has a 12 month low of $27.88 and a 12 month high of $41.20. The company has a current ratio of 2.53, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33.

Federated Hermes (NYSE:FHI – Get Rating) last announced its earnings results on Thursday, January 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. Federated Hermes had a return on equity of 26.80% and a net margin of 16.57%. The firm had revenue of $373.90 million during the quarter, compared to analyst estimates of $381.41 million. On average, analysts predict that Federated Hermes, Inc. will post 3.22 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Tuesday, February 7th. Federated Hermes’s dividend payout ratio is presently 40.60%.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft increased their price target 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 issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.13.

Insider Activity

In other news, Vice Chairman Gordon J. Ceresino sold 12,853 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $38.20, for a total transaction of $490,984.60. Following the completion of the sale, the insider now directly owns 155,829 shares of the company’s stock, valued at approximately $5,952,667.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Vice Chairman Gordon J. Ceresino sold 12,853 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $38.20, for a total transaction of $490,984.60. Following the completion of the transaction, the insider now owns 155,829 shares in the company, valued at approximately $5,952,667.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Farrell sold 10,000 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $38.64, for a total value of $386,400.00. Following the transaction, the director now owns 50,200 shares of the company’s stock, valued at approximately $1,939,728. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Federated Hermes Profile

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Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.