Retirement Systems of Alabama Lowers Position in Federated Hermes, Inc. (NYSE:FHI)

Retirement Systems of Alabama reduced its stake in Federated Hermes, Inc. (NYSE:FHI) by 3.5% during the third quarter, HoldingsChannel.com reports. The fund owned 95,612 shares of the company’s stock after selling 3,451 shares during the quarter. Retirement Systems of Alabama’s holdings in Federated Hermes were worth $3,516,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue increased its holdings in shares of Federated Hermes by 3.1% in the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after purchasing an additional 275 shares during the last quarter. UMB Bank n.a. increased its stake in Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after acquiring an additional 296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Federated Hermes by 2.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Federated Hermes by 23.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after acquiring an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 1,363 shares of Federated Hermes 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 completion of the sale, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul A. Uhlman sold 6,311 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the sale, the vice president now owns 310,767 shares of the company’s stock, valued at $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,280 shares of company stock worth $1,185,871. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of several research reports. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI boosted their price objective 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Federated Hermes Stock Performance

Federated Hermes stock opened at $40.77 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The firm has a market capitalization of $3.34 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company’s 50-day moving average is $40.98 and its 200 day moving average is $36.43.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. Federated Hermes’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. Research analysts forecast that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

Federated Hermes Company 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.