Arizona State Retirement System Has $794,000 Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Arizona State Retirement System lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,446 shares of the company’s stock after selling 766 shares during the quarter. Arizona State Retirement System’s holdings in Federated Hermes were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Federated Hermes by 3.7% during the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares during the last quarter. Vanguard Group Inc. grew its holdings in Federated Hermes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock worth $314,407,000 after acquiring an additional 73,168 shares during the last quarter. FMR LLC boosted its stake in shares of Federated Hermes by 12.6% in the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after purchasing an additional 562,232 shares during the last quarter. Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Federated Hermes by 0.9% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock valued at $107,453,000 after purchasing an additional 27,321 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Federated Hermes by 0.8% in the 1st quarter. State Street Corp now owns 2,898,040 shares of the company’s stock valued at $116,327,000 after purchasing an additional 24,211 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction that occurred on 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 sale, the vice president now directly owns 289,904 shares in the company, valued at $10,222,015.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction that occurred on 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 sale, the vice president now directly owns 289,904 shares in the company, valued at $10,222,015.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The disclosure for this sale can be found here. Insiders have sold 115,435 shares of company stock worth $4,092,831 over the last ninety days. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI stock opened at $35.08 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The company has a market capitalization of $2.96 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12. The company’s 50 day moving average price is $35.68 and its two-hundred day moving average price is $34.04. Federated Hermes, Inc. has a 52 week low of $30.23 and a 52 week high of $45.55.

Federated Hermes (NYSE:FHI) last announced its earnings results on Friday, January 26th. The company reported $0.96 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 firm had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Federated Hermes, Inc. will post 3.73 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.19%. Federated Hermes’s dividend payout ratio (DPR) is presently 32.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FHI. Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. UBS Group lifted their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen began coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Federated Hermes 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.