Federated Hermes CEO Trades Company's Stock By Benzinga

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Federated Hermes CEO Trades Company's Stock

Published Sep 07, 2023 16:02 Updated Sep 07, 2023 17:10

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Federated Hermes CEO Trades Company's Stock

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Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Anwar Saker Nusseibeh, CEO at Federated Hermes (NYSE:FHI), reported a large insider sell on September 6, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Nusseibeh sold 7,800 shares of Federated Hermes. The total transaction amounted to $270,904.

Federated Hermes shares are trading down 1.82% at $34.22 at the time of this writing on Thursday morning.

Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.

The Importance of Insider Transactions Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Federated Hermes's Insider Trades.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Read the original article on Benzinga

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