Horizon Kinetics Asset Management LLC Has $836,000 Position in Federated Hermes, Inc. $FHI

Horizon Kinetics Asset Management LLC reduced its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 17.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FHI. Envestnet Asset Management Inc. grew its stake in shares of Federated Hermes by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 22,057 shares of the company’s stock worth $899,000 after acquiring an additional 837 shares during the last quarter. CWM LLC increased its holdings in shares of Federated Hermes by 21.0% during the 1st 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. increased its holdings in shares of Federated Hermes by 2.5% during the 1st quarter. Pacer Advisors Inc. now owns 11,900 shares of the company’s stock worth $485,000 after purchasing an additional 286 shares during the period. LPL Financial LLC raised its position in shares of Federated Hermes by 373.9% during the first 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 last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Federated Hermes in the first quarter valued at about $214,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Federated Hermes stock opened at $48.90 on Tuesday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.54 and a beta of 0.83. The stock has a fifty day moving average price of $50.55 and a two-hundred day moving average price of $48.41. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

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

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued 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 yield of 2.8%. Federated Hermes’s dividend payout ratio is currently 28.39%.

Insider Buying and Selling at Federated Hermes

In other news, insider Richard A. Novak sold 1,249 shares of Federated Hermes stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the sale, the insider directly owned 57,500 shares of the company’s stock, valued at approximately $2,751,375. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dolores D. Dudiak sold 999 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.87, for a total value of $47,822.13. Following the sale, the vice president owned 88,223 shares of the company’s stock, valued at approximately $4,223,235.01. The trade was a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,709 shares of company stock worth $1,049,146. Insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the subject of several recent research reports. Royal Bank Of Canada upped their price target on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Evercore ISI lifted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. TD Cowen boosted their price target on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and an average price target of $49.67.

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.