Retirement Systems of Alabama Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Retirement Systems of Alabama trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 95,612 shares of the company’s stock after selling 3,451 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Federated Hermes worth $3,516,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC increased its holdings in shares of Federated Hermes by 6.3% during the second quarter. Alpha Omega Wealth Management LLC now owns 116,736 shares of the company’s stock valued at $3,838,000 after acquiring an additional 6,924 shares in the last quarter. Legato Capital Management LLC grew its position in Federated Hermes by 4.7% during the 2nd quarter. Legato Capital Management LLC now owns 47,695 shares of the company’s stock valued at $1,568,000 after purchasing an additional 2,137 shares during the last quarter. ABLE Financial Group LLC bought a new stake in Federated Hermes during the 2nd quarter valued at about $826,000. Panagora Asset Management Inc. raised its holdings in Federated Hermes by 10.7% in the second quarter. Panagora Asset Management Inc. now owns 96,425 shares of the company’s stock worth $3,170,000 after buying an additional 9,346 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, UBS Group raised their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,280 shares of company stock valued at $1,185,871. Company insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

FHI stock opened at $40.77 on Friday. The business’s 50-day moving average is $40.98 and its two-hundred day moving average is $36.43. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.19 and a beta of 1.15. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same period in the previous year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts forecast that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.04%. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

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.