Insider Selling: Federated Hermes (NYSE:FHI) VP Sells 4,000 Shares of Stock

Key Points

• Federated Hermes VP Bryan Burke sold 4,000 shares on May 7 at an average price of $54.20, totaling $216,800. After the sale, he still held 74,921 shares, a 5.07% reduction in his stake.
• The stock rose 2.8% to $55.86, while the company continues to show solid fundamentals, including a $4.24 billion market cap, a 10.83 P/E ratio, and a 2.7% dividend yield.
• Federated Hermes beat quarterly earnings estimates with EPS of $1.27 versus $1.20 expected, and it raised its quarterly dividend from $0.34 to $0.38 per share.

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) VP Bryan Burke sold 4,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Federated Hermes Stock Up 2.8%

NYSE FHI traded up $1.52 during trading on Friday, reaching $55.86. 796,384 shares of the company's stock were exchanged, compared to its average volume of 768,766. The company has a current ratio of 3.28, a quick ratio of 2.30 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a fifty-two week low of $41.55 and a fifty-two week high of $59.05. The company's fifty day simple moving average is $56.62 and its 200-day simple moving average is $53.53. The firm has a market capitalization of $4.24 billion, a PE ratio of 10.83, a P/E/G ratio of 2.18 and a beta of 0.67.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business had revenue of $478.96 million during the quarter, compared to analyst estimates of $475.22 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm's revenue was up 13.1% compared to the same quarter last year. Sell-side analysts predict that Federated Hermes, Inc. will post 5.08 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, May 8th. This represents a $1.52 annualized dividend and a dividend yield of 2.7%. This is an increase from Federated Hermes's previous quarterly dividend of $0.34. Federated Hermes's dividend payout ratio is presently 29.46%.

Hedge Funds Weigh In On Federated Hermes

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in shares of Federated Hermes by 236.0% during the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company's stock worth $362,000 after acquiring an additional 6,244 shares in the last quarter. United Services Automobile Association bought a new position in shares of Federated Hermes in the 1st quarter valued at approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Federated Hermes by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company's stock worth $9,769,000 after purchasing an additional 24,960 shares during the last quarter. American Century Companies Inc. lifted its holdings in Federated Hermes by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 33,246 shares of the company's stock worth $1,474,000 after purchasing an additional 614 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Federated Hermes by 4.9% during the second quarter. Prudential Financial Inc. now owns 11,744 shares of the company's stock worth $497,000 after purchasing an additional 547 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Federated Hermes in a report on Tuesday, April 21st. Wall Street Zen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. TD Cowen reduced their price target on Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their price target on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating for the company in a research note on Monday. Finally, Argus upgraded Federated Hermes to a "hold" rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $54.00.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.