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

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Federated Hermes during the first quarter valued at approximately $1,542,000. BNP Paribas Financial Markets grew its position in Federated Hermes by 69.3% in the 1st quarter. BNP Paribas Financial Markets now owns 36,615 shares of the company’s stock valued at $1,323,000 after acquiring an additional 14,987 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in Federated Hermes by 11.4% in the first quarter. Capstone Investment Advisors LLC now owns 14,151 shares of the company’s stock worth $511,000 after purchasing an additional 1,449 shares during the period. SG Americas Securities LLC lifted its position in shares of Federated Hermes by 92.2% during the first quarter. SG Americas Securities LLC now owns 7,290 shares of the company’s stock worth $263,000 after purchasing an additional 3,497 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Federated Hermes during the first quarter valued at $892,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Federated Hermes presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Federated Hermes Trading Down 1.3 %

NYSE:FHI opened at $40.02 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $36.58 and a 200-day simple moving average of $34.39. Federated Hermes, Inc. has a 12 month low of $31.08 and a 12 month high of $40.65. The company has a market capitalization of $3.27 billion, a P/E ratio of 12.87, a PEG ratio of 1.16 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share 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 quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.10%. 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.