GSA Capital Partners LLP Reduces Stake in Federated Hermes, Inc. (NYSE:FHI)

GSA Capital Partners LLP decreased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 80.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,292 shares of the company’s stock after selling 42,302 shares during the quarter. GSA Capital Partners LLP’s holdings in Federated Hermes were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of FHI. Vanguard Group Inc. grew its stake in shares of Federated Hermes by 0.5% in the 1st 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 period. AQR Capital Management LLC increased its stake in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after acquiring an additional 1,261,097 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares during the period. Millennium Management LLC lifted its stake in shares of Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after purchasing an additional 10,552 shares during the last quarter. Finally, Interval Partners LP grew its holdings in shares of Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,370 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE:FHI opened at $41.71 on Friday. Federated Hermes, Inc. has a 52 week low of $31.08 and a 52 week high of $42.56. The company has a fifty day simple moving average of $38.53 and a two-hundred day simple moving average of $35.09. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.85% and a net margin of 16.62%. Federated Hermes’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $46.00 in a report on Monday, October 28th. Evercore ISI upped their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Buying and Selling at Federated Hermes

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

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.