State of Alaska Department of Revenue Sells 1,030 Shares of Federated Hermes, Inc. (NYSE:FHI)

State of Alaska Department of Revenue lowered its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,541 shares of the company’s stock after selling 1,030 shares during the quarter. State of Alaska Department of Revenue’s holdings in Federated Hermes were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHI. Alyeska Investment Group L.P. bought a new position in shares of Federated Hermes during the 1st quarter worth about $28,723,000. Invesco Ltd. grew its position in shares of Federated Hermes by 61.0% during the 1st quarter. Invesco Ltd. now owns 1,822,046 shares of the company’s stock valued at $62,060,000 after acquiring an additional 690,423 shares during the period. FMR LLC grew its position in shares of Federated Hermes by 12.6% during the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after acquiring an additional 562,232 shares during the period. Wellington Management Group LLP boosted its holdings in Federated Hermes by 87.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after buying an additional 533,083 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Federated Hermes by 183.5% in the 3rd quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after buying an additional 518,715 shares during the period. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 2.3 %

NYSE:FHI opened at $35.73 on Friday. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $45.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The company’s 50-day simple moving average is $35.70 and its 200 day simple moving average is $34.02. The firm has a market capitalization of $3.02 billion, a P/E ratio of 10.48, a PEG ratio of 0.87 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last issued its earnings results on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $396.97 million. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Federated Hermes, Inc. will post 3.73 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 dividend on an annualized basis and a yield of 3.13%. Federated Hermes’s dividend payout ratio is currently 32.84%.

Insiders Place Their Bets

In related news, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total transaction of $500,284.00. Following the completion of the transaction, the vice president now owns 276,084 shares in the company, valued at $9,994,240.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul A. Uhlman sold 13,820 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now owns 276,084 shares in the company, valued at $9,994,240.80. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock worth $4,092,831 over the last three months. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FHI. UBS Group raised their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. TD Cowen initiated coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.