Retirement Systems of Alabama Sells 2,216 Shares of Federated Hermes, Inc. (NYSE:FHI)

Retirement Systems of Alabama lessened its position in Federated Hermes, Inc. (NYSE:FHI) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,018 shares of the company’s stock after selling 2,216 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Federated Hermes worth $3,657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Federated Hermes by 71.1% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after acquiring an additional 307 shares during the last quarter. Signaturefd LLC grew its position in Federated Hermes by 69.9% in the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Federated Hermes by 23.0% during the 4th quarter. Blue Trust Inc. now owns 2,708 shares of the company’s stock worth $92,000 after purchasing an additional 507 shares during the period. SG Americas Securities LLC acquired a new position in shares of Federated Hermes during the fourth quarter valued at about $128,000. Finally, Cape Investment Advisory Inc. bought a new position in Federated Hermes during the third quarter valued at about $200,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FHI. Evercore ISI decreased their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group upped their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.29.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares in the company, valued at $6,441,062.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The disclosure for this sale can be found here. Insiders sold a total of 23,030 shares of company stock valued at $833,153 in the last quarter. 3.70% of the stock is currently owned by insiders.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $32.09 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $39.38. The stock has a market capitalization of $2.70 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.93 and a beta of 1.14. The business has a 50-day moving average price of $35.31 and a two-hundred day moving average price of $34.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities analysts predict that Federated Hermes, Inc. will post 3.64 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently announced a None dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be paid a $1.31 dividend. This is a boost from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a yield of 3.8%. Federated Hermes’s payout ratio is presently 31.82%.

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.