State of New Jersey Common Pension Fund D Cuts Stock Position in Federated Hermes, Inc. (NYSE:FHI)

State of New Jersey Common Pension Fund D lessened its stake in Federated Hermes, Inc. (NYSE:FHIGet Rating) by 5.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,304 shares of the company’s stock after selling 4,753 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Federated Hermes were worth $2,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in Federated Hermes in the 4th quarter worth $240,000. S&T Bank PA increased its holdings in Federated Hermes by 0.5% in the 4th quarter. S&T Bank PA now owns 77,487 shares of the company’s stock worth $2,912,000 after acquiring an additional 398 shares in the last quarter. Cubic Asset Management LLC purchased a new stake in Federated Hermes in the 1st quarter worth $283,000. City State Bank purchased a new stake in Federated Hermes in the 4th quarter worth $95,000. Finally, Schneider Downs Wealth Management Advisors LP increased its holdings in Federated Hermes by 1.0% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 3,271,829 shares of the company’s stock worth $111,438,000 after acquiring an additional 31,543 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.

Insider Activity

In other news, VP Paul A. Uhlman sold 971 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $33.78, for a total transaction of $32,800.38. Following the transaction, the vice president now owns 342,164 shares of the company’s stock, valued at approximately $11,558,299.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 971 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $33.78, for a total value of $32,800.38. Following the transaction, the vice president now owns 342,164 shares of the company’s stock, valued at $11,558,299.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 26,662 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $32.24, for a total transaction of $859,582.88. Following the completion of the transaction, the chief executive officer now directly owns 279,814 shares in the company, valued at approximately $9,021,203.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,945 shares of company stock valued at $2,014,998. 5.00% of the stock is currently owned by insiders.

Federated Hermes Trading Down 2.6 %

Shares of FHI stock opened at $34.11 on Monday. The company’s 50-day moving average price is $32.75 and its 200-day moving average price is $32.60. The company has a current ratio of 3.22, a quick ratio of 2.14 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 13.07 and a beta of 1.13. Federated Hermes, Inc. has a twelve month low of $27.88 and a twelve month high of $39.82.

Federated Hermes (NYSE:FHIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). The firm had revenue of $366.01 million for the quarter, compared to analyst estimates of $363.24 million. Federated Hermes had a net margin of 19.60% and a return on equity of 23.09%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, equities analysts predict that Federated Hermes, Inc. will post 2.78 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.17%. Federated Hermes’s payout ratio is 41.38%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FHI. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Federated Hermes from $37.00 to $36.00 in a report on Wednesday, July 13th. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup lowered their target price on Federated Hermes from $28.50 to $25.50 in a report on Monday, May 2nd. Finally, Keefe, Bruyette & Woods raised Federated Hermes from a “market perform” rating to an “outperform” rating and increased their price target for the company from $32.00 to $40.00 in a report on Tuesday, June 28th.

About Federated Hermes

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Federated Hermes, Inc is a publicly owned asset management holding company. 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.

Further Reading

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Institutional Ownership by Quarter for Federated Hermes (NYSE:FHI)

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