Principal Financial Group Inc. Sells 84,133 Shares of Federated Hermes, Inc. (NYSE:FHI)

Principal Financial Group Inc. decreased its stake in Federated Hermes, Inc. (NYSE:FHI) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,174 shares of the company’s stock after selling 84,133 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of Federated Hermes worth $6,515,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in Federated Hermes by 92.2% in the 1st quarter. SG Americas Securities LLC now owns 7,290 shares of the company’s stock worth $263,000 after buying an additional 3,497 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Federated Hermes by 42.3% in the 1st quarter. Russell Investments Group Ltd. now owns 6,876 shares of the company’s stock worth $248,000 after purchasing an additional 2,043 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Federated Hermes by 78.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,814 shares of the company’s stock worth $2,522,000 after purchasing an additional 30,621 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Federated Hermes by 66.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 28,151 shares of the company’s stock valued at $1,016,000 after buying an additional 11,226 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after buying an additional 45,214 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on FHI shares. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.33.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $41.28 on Wednesday. The business has a 50 day simple moving average of $38.23 and a two-hundred day simple moving average of $35.00. Federated Hermes, Inc. has a 12 month low of $31.08 and a 12 month high of $42.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock has a market capitalization of $3.38 billion, a P/E ratio of 13.27, a PEG ratio of 1.17 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. Federated Hermes’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Federated Hermes Profile

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.