Horizon Kinetics Asset Management LLC Sells 4,008 Shares of Federated Hermes, Inc. $FHI

Horizon Kinetics Asset Management LLC decreased its stake in Federated Hermes, Inc. (NYSE:FHI) by 17.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,854 shares of the company’s stock after selling 4,008 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Federated Hermes were worth $836,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Federated Hermes by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,057 shares of the company’s stock valued at $899,000 after acquiring an additional 837 shares during the period. CWM LLC raised its holdings in Federated Hermes by 21.0% in the first quarter. CWM LLC now owns 3,521 shares of the company’s stock worth $144,000 after purchasing an additional 612 shares during the period. Pacer Advisors Inc. boosted its position in shares of Federated Hermes by 2.5% during the first quarter. Pacer Advisors Inc. now owns 11,900 shares of the company’s stock worth $485,000 after purchasing an additional 286 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Federated Hermes by 373.9% in the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock valued at $3,729,000 after buying an additional 72,173 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Federated Hermes in the 1st quarter valued at $214,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Federated Hermes news, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $59,764.65. Following the sale, the insider directly owned 57,500 shares of the company’s stock, valued at approximately $2,751,375. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dolores D. Dudiak sold 999 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.87, for a total transaction of $47,822.13. Following the transaction, the vice president owned 88,223 shares in the company, valued at $4,223,235.01. This represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 21,709 shares of company stock valued at $1,049,146. 3.80% of the stock is owned by insiders.

Federated Hermes Stock Up 1.0%

Federated Hermes stock opened at $48.90 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42. The company has a fifty day simple moving average of $50.55 and a 200 day simple moving average of $48.41. The company has a market cap of $3.79 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $469.45 million for the quarter, compared to the consensus estimate of $442.67 million. During the same quarter in the previous year, the business earned $1.06 earnings per share. Federated Hermes’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. Federated Hermes’s payout ratio is 28.39%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FHI shares. Evercore ISI lifted their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.67.

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.