Retirement Systems of Alabama Reduces Stake in Federated Hermes, Inc. (NYSE:FHI)

Retirement Systems of Alabama lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,018 shares of the company’s stock after selling 2,216 shares during the period. Retirement Systems of Alabama’s holdings in Federated Hermes were worth $3,657,000 at the end of the most recent quarter.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price target on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. UBS Group increased 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, Royal Bank of Canada lifted their target price on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and an average price target of $38.29.

Federated Hermes Stock Down 3.7 %

Shares of NYSE FHI opened at $32.09 on Wednesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.93 and a beta of 1.14. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $35.31 and its 200 day moving average is $34.10. Federated Hermes, Inc. has a 52 week low of $30.23 and a 52 week high of $39.38.

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

Federated Hermes Increases Dividend

The firm also recently announced a None dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $1.31 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 7th. This is an increase from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio is currently 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.