Geode Capital Management LLC Has $45.98 Million Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Geode Capital Management LLC lifted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,250,182 shares of the company’s stock after purchasing an additional 92,643 shares during the period. Geode Capital Management LLC owned 1.53% of Federated Hermes worth $45,982,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vestcor Inc raised its position in Federated Hermes by 7.1% during the 3rd quarter. Vestcor Inc now owns 149,625 shares of the company’s stock worth $5,502,000 after purchasing an additional 9,885 shares during the last quarter. Barclays PLC increased its stake in shares of Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock valued at $7,930,000 after buying an additional 150,017 shares during the period. Weiss Asset Management LP bought a new position in shares of Federated Hermes during the third quarter worth about $434,000. Two Sigma Advisers LP lifted its stake in shares of Federated Hermes by 13.1% in the third quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after acquiring an additional 90,900 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Federated Hermes in the third quarter valued at approximately $219,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Down 0.3 %

Shares of NYSE:FHI opened at $40.92 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The business’s 50 day simple moving average is $41.07 and its two-hundred day simple moving average is $36.54. The firm has a market cap of $3.35 billion, a P/E ratio of 13.16, a PEG ratio of 1.19 and a beta of 1.15.

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

Federated Hermes Announces Dividend

The firm 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. This represents a $1.24 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, November 8th. Federated Hermes’s payout ratio is presently 39.87%.

Insider Buying and Selling

In other news, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock worth $1,185,871 in the last quarter. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of a number of recent analyst reports. 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. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. UBS Group increased their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average target price of $43.33.

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.