Louisiana State Employees Retirement System Sells 900 Shares of Federated Hermes, Inc. (NYSE:FHI)

Louisiana State Employees Retirement System lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,800 shares of the company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Federated Hermes were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its stake in shares of Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares during the period. Mather Group LLC. purchased a new position in shares of Federated Hermes during the 2nd quarter worth approximately $47,000. CWM LLC raised its position in shares of Federated Hermes by 985.7% in the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after acquiring an additional 1,311 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Down 1.3 %

Shares of Federated Hermes stock opened at $40.02 on Tuesday. The company has a 50-day simple moving average of $36.58 and a two-hundred day simple moving average of $34.39. The stock has a market capitalization of $3.27 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. Federated Hermes, Inc. has a 52-week low of $31.08 and a 52-week high of $40.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.09 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Federated Hermes, Inc. will post 3.83 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Insider Buying and Selling at Federated Hermes

In other news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FHI shares. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. UBS Group lifted their target price 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. Finally, TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Federated Hermes 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.