Mutual of America Capital Management LLC Sells 3,415 Shares of Federated Hermes, Inc. (NYSE:FHI)

Mutual of America Capital Management LLC lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,541 shares of the company’s stock after selling 3,415 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Federated Hermes worth $1,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schneider Downs Wealth Management Advisors LP boosted its stake in Federated Hermes by 31.4% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 90,914 shares of the company’s stock worth $3,343,000 after acquiring an additional 21,732 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Federated Hermes by 387.6% in the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock worth $5,867,000 after buying an additional 126,840 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Federated Hermes in the 3rd quarter worth approximately $214,000. State of New Jersey Common Pension Fund D increased its position in Federated Hermes by 1.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,530 shares of the company’s stock valued at $2,152,000 after buying an additional 967 shares in the last quarter. Finally, Meritage Portfolio Management raised its stake in Federated Hermes by 9.3% during the third quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock valued at $374,000 after buying an additional 870 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s 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 transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,280 shares of company stock valued at $1,185,871. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of FHI stock opened at $42.61 on Tuesday. The firm has a market capitalization of $3.49 billion, a PE ratio of 13.70, a P/E/G ratio of 1.18 and a beta of 1.15. The company has a 50 day moving average price of $38.82 and a 200-day moving average price of $35.26. Federated Hermes, Inc. has a 52 week low of $31.08 and a 52 week high of $43.06. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

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

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio is 39.87%.

Analyst Upgrades and Downgrades

FHI has been the topic of a number of recent research reports. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Royal Bank of Canada increased their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. 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 research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.33.

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.