Saker Anwar Nusseibeh Sells 20,000 Shares of Federated Hermes, Inc. (NYSE:FHI) Stock

Posted by MarketBeat News on May 14th, 2023

Federated Hermes, Inc. (NYSE:FHI – Get Rating) CEO Saker Anwar Nusseibeh sold 20,000 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $37.48, for a total value of $749,600.00. Following the sale, the chief executive officer now owns 236,569 shares of the company’s stock, valued at $8,866,606.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Saker Anwar Nusseibeh also recently made the following trade(s):

On Tuesday, March 7th, Saker Anwar Nusseibeh sold 9,933 shares of Federated Hermes stock. The shares were sold at an average price of $39.12, for a total transaction of $388,578.96.

Federated Hermes Price Performance

Shares of FHI stock opened at $37.13 on Friday. The stock’s fifty day simple moving average is $40.46 and its 200 day simple moving average is $38.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.00 and a quick ratio of 2.23. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 13.12 and a beta of 1.05. Federated Hermes, Inc. has a one year low of $28.69 and a one year high of $45.55.

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Federated Hermes (NYSE:FHI – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $382.20 million for the quarter, compared to analyst estimates of $390.85 million. Federated Hermes had a return on equity of 27.83% and a net margin of 16.85%. Federated Hermes’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, analysts expect that Federated Hermes, Inc. will post 3.26 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 8th will be given a $0.28 dividend. The ex-dividend date is Friday, May 5th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.02%. Federated Hermes’s payout ratio is 39.58%.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Federated Hermes by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock worth $1,209,000 after purchasing an additional 3,384 shares in the last quarter. BlackRock Inc. lifted its position in shares of Federated Hermes by 3.7% during the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after purchasing an additional 466,504 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Federated Hermes by 3.0% during the first quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,490 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Federated Hermes by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock worth $76,638,000 after purchasing an additional 40,797 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Federated Hermes by 313.0% during the first quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock worth $1,671,000 after purchasing an additional 37,140 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FHI has been the topic of several recent research reports. Evercore ISI raised their target price on Federated Hermes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $47.00 in a report on Tuesday, April 11th. StockNews.com began coverage on Federated Hermes in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Federated Hermes from $44.00 to $45.00 in a research report on Monday, May 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Federated Hermes currently has an average rating of “Moderate Buy” and an average price target of $42.40.

About Federated Hermes

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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.