Jane Street Group LLC Cuts Stake in Federated Hermes, Inc. (NYSE:FHI)

Jane Street Group LLC decreased its position in Federated Hermes, Inc. (NYSE:FHI) by 29.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,570 shares of the company’s stock after selling 52,221 shares during the period. Jane Street Group LLC’s holdings in Federated Hermes were worth $4,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its holdings in Federated Hermes by 985.7% in the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in shares of Federated Hermes by 6.3% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 116,736 shares of the company’s stock valued at $3,838,000 after buying an additional 6,924 shares during the period. Legato Capital Management LLC boosted its stake in shares of Federated Hermes by 4.7% in the second quarter. Legato Capital Management LLC now owns 47,695 shares of the company’s stock valued at $1,568,000 after buying an additional 2,137 shares in the last quarter. ABLE Financial Group LLC acquired a new position in Federated Hermes during the second quarter worth $826,000. Finally, Panagora Asset Management Inc. raised its position in Federated Hermes by 10.7% in the second quarter. Panagora Asset Management Inc. now owns 96,425 shares of the company’s stock worth $3,170,000 after acquiring an additional 9,346 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock valued at $1,185,871 over the last 90 days. Insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

FHI stock opened at $41.95 on Wednesday. The stock’s 50 day moving average price is $40.79 and its 200 day moving average price is $36.37. The firm has a market cap of $3.43 billion, a P/E ratio of 13.49, a PEG ratio of 1.19 and a beta of 1.15. 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 1 year low of $31.24 and a 1 year high of $43.92.

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

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.96%. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Wall Street Analysts Forecast Growth

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

About Federated Hermes

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.