New York State Teachers Retirement System Decreases Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

New York State Teachers Retirement System lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,844 shares of the company’s stock after selling 678 shares during the period. New York State Teachers Retirement System owned about 0.16% of Federated Hermes worth $4,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after buying an additional 307 shares in the last quarter. Signaturefd LLC boosted its holdings in Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after buying an additional 343 shares in the last quarter. Quarry LP purchased a new stake in Federated Hermes during the second quarter worth about $29,000. CENTRAL TRUST Co boosted its holdings in Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock worth $50,000 after buying an additional 1,150 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in Federated Hermes during the second quarter worth about $51,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of the business’s 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 completion of the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Paul A. Uhlman sold 13,820 shares of the business’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 sale, the vice president now directly owns 276,084 shares in the company, valued at $9,994,240.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock valued at $4,092,831 over the last 90 days. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FHI. TD Cowen started coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. 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. Finally, UBS Group lifted their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Federated Hermes presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Federated Hermes Stock Performance

NYSE:FHI opened at $35.73 on Friday. The firm has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $34.02. 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 firm has a market cap of $3.02 billion, a PE ratio of 10.48, a P/E/G ratio of 0.87 and a beta of 1.12. Federated Hermes, Inc. has a 1-year low of $30.23 and a 1-year high of $45.55.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. The business had revenue of $391.50 million during the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, equities analysts expect that Federated Hermes, Inc. will post 3.73 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is presently 32.84%.

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.