Louisiana State Employees Retirement System Buys New Stake in Federated Hermes, Inc. (NYSE:FHI)

Louisiana State Employees Retirement System bought a new stake in Federated Hermes, Inc. (NYSE:FHI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,200 shares of the company’s stock, valued at approximately $819,000.

Several other large investors have also recently bought and sold shares of FHI. Exchange Traded Concepts LLC purchased a new position in Federated Hermes in the third quarter valued at $615,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Federated Hermes by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,753 shares of the company’s stock valued at $432,000 after buying an additional 1,886 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Federated Hermes by 2.5% in the third quarter. Taylor Frigon Capital Management LLC now owns 39,324 shares of the company’s stock valued at $1,332,000 after buying an additional 944 shares during the last quarter. James Investment Research Inc. purchased a new position in Federated Hermes in the third quarter valued at $244,000. Finally, Kendall Capital Management increased its holdings in Federated Hermes by 6.5% in the third quarter. Kendall Capital Management now owns 20,030 shares of the company’s stock valued at $678,000 after buying an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of FHI opened at $32.80 on Friday. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $42.57. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.82 and a beta of 1.12. The firm has a 50-day simple moving average of $35.59 and a 200-day simple moving average of $34.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 3.76 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on FHI shares. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. TD Cowen started coverage on Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. UBS Group raised their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average target price of $38.50.

Insider Transactions at Federated Hermes

In related news, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the sale, the vice president now owns 31,689 shares in the company, valued at $1,145,557.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at $1,769,882.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the sale, the vice president now owns 31,689 shares of the company’s stock, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,435 shares of company stock worth $4,092,831. Company insiders own 3.70% of the company’s stock.

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.