Walleye Capital LLC Takes $243,000 Position in Federated Hermes, Inc. (NYSE:FHI)

Walleye Capital LLC acquired a new stake in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,608 shares of the company’s stock, valued at approximately $243,000.

A number of other large investors have also recently made changes to their positions in FHI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Federated Hermes during the 3rd quarter worth about $252,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Federated Hermes during the 3rd quarter worth about $1,287,000. Cadence Bank boosted its stake in shares of Federated Hermes by 2.1% during the 3rd quarter. Cadence Bank now owns 122,328 shares of the company’s stock worth $4,498,000 after acquiring an additional 2,469 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after acquiring an additional 137,245 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total transaction of $184,306.52. Following the completion of the transaction, the chief executive officer now owns 184,642 shares of the company’s stock, valued at approximately $7,640,485.96. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $42.33 on Wednesday. The company has a 50-day simple moving average of $40.06 and a 200-day simple moving average of $35.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a market cap of $3.46 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, equities analysts anticipate that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.93%. Federated Hermes’s payout ratio is currently 39.87%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI increased their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. UBS Group boosted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Company 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.