Cadence Bank Acquires 2,469 Shares of Federated Hermes, Inc. (NYSE:FHI)

Cadence Bank boosted its holdings in Federated Hermes, Inc. (NYSE:FHI) by 2.1% in the third quarter, HoldingsChannel reports. The firm owned 122,328 shares of the company’s stock after purchasing an additional 2,469 shares during the period. Cadence Bank’s holdings in Federated Hermes were worth $4,498,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FHI. Vanguard Group Inc. lifted its position in shares of Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after acquiring an additional 45,214 shares during the period. FMR LLC grew its position in Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares during the period. AQR Capital Management LLC increased its stake in Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after buying an additional 324,958 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after buying an additional 10,552 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Price Performance

FHI opened at $42.86 on Wednesday. Federated Hermes, Inc. has a fifty-two week low of $31.08 and a fifty-two week high of $43.06. The firm has a 50-day moving average of $38.97 and a 200 day moving average of $35.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The firm has a market cap of $3.51 billion, a P/E ratio of 13.78, a PEG 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 for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. On average, research analysts expect that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.89%. Federated Hermes’s payout ratio is presently 39.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FHI shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Evercore ISI lifted their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Federated Hermes presently has an average rating of “Moderate Buy” and an average price target of $43.33.

Insider Transactions at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the transaction, the vice president now directly owns 310,767 shares of the company’s stock, valued at approximately $12,862,646.13. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is owned by company insiders.

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.