Retirement Systems of Alabama reduced its stake in Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 8.2% in the third quarter, according to the company’s latest filing with the U.S. Securities and Exchange Commission (SEC) became. The fund owned his 110,857 shares of the company’s stock after selling his 9,898 shares during the quarter. Alabama’s retirement system said he owned 0.12% of his Federated Hermes worth $3,672,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently changed their holdings of FHI. Pennsylvania Public Schools Retrmt SYS increased his Federated Hermes stake by 10.5% in the first quarter. Pennsylvania Public Schools employee Retrmt SYS now owns 35,492 shares of the company worth $1,209,000 after acquiring an additional 3,384 shares during the previous quarter. BlackRock Inc. increased his Federated Hermes stake by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares worth $442,838,000 after acquiring an additional 466,504 shares during the previous quarter. Yousif Capital Management LLC increased his Federated Hermes stake by 3.0% in the first quarter. Yousif Capital Management LLC now owns 51,532 shares of the company worth $1,755,000 after acquiring an additional 1,490 of his shares during the previous quarter. Dimensional Fund Advisors LP increased its stake in Federated Hermes by 1.8% in the first quarter. Dimensional Fund Advisors LP owns 2,250,041 shares of the company worth $76,638,000 after he purchased an additional 40,797 shares last quarter. Finally, Sei Investments Co. increased his Federated Hermes stake by 313.0% in the first quarter. Sei Investments Co. now owns 49,005 shares of the company, valued at $1,671,000, after purchasing an additional 37,140 shares last quarter. 78.82% of the shares are owned by institutional investors.
Wall Street Analyst Predicts Growth
A number of research firms have recently published reports on the FHI. StockNews.com began covering Federated Hermes in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised its Federated Hermes target price from $42.00 to $44.00 in a research note on Wednesday, January 11. Finally, Royal Bank of Canada raised its price target on Federated Hermes from $33.00 to $35.00, giving it a ‘Sector Performing’ rating in its research notes on Tuesday, November 1st. One research analyst gave a sell rating, one assigned a hold rating, and three gave buy ratings to the company. According to MarketBeat.com data, the stock currently has a consensus rating of “Hold” with an average target price of $36.13.
Federated Hermes inventory increased by 2.7%
NYSE:FHI opened Thursday at $40.36. Federated Hermes, Inc. has a 12-month low of $27.88 and a 12-month high of $40.52. The company has a market capitalization of $3.59 billion, a price/earnings ratio of 15.17 and a beta of 1.03. The company has a quick ratio of 1.90, a current ratio of 2.53 and a debt to equity ratio of 0.33. The stock has a 50-day moving average price of $37.34 and a 200-day moving average price of $35.31.
Federated Hermes Dividend Notice
The company recently announced a quarterly dividend payable on Wednesday, February 15th. Dividends of $0.27 per share will be issued to investors of record on Wednesday, February 8. The ex-dividend date for this dividend is Tuesday, February 7. This represents his $1.08 dividend and his 2.68% yield on an annual basis. Federated Hermes payout percentage is 40.60%.
In other news, insider Richard A. Novak sold 14,557 shares of Federated Hermes stock in a transaction on Monday, November 28th. The shares sold for an average of $37.48, giving him a total of $545,596.36. Following the closing of the transaction, insiders now own 45,239 shares of the company’s stock valued at approximately $1,695,557.72. The sale was disclosed in legal filings with the SEC that can be accessed via this hyperlink. In other news from Federated Hermes, his insider, Richard A. Novak, sold 14,557 shares in the company in a transaction that took place on Monday, November 28th. The shares sold at an average price of $37.48, giving him a total of $545,596.36. After the sale, the insider now owns his 45,239 shares of the company, worth his $1,695,557.72. The transaction was disclosed in filings with the Securities and Exchange Commission and is available at this link. Also insider Richard A. Novak sold 4,618 shares of his Federated Hermes stock in a transaction that took place on Friday, November 25. The shares were sold at an average price of $37.65 for a total of $173,867.70. After the transaction, insiders now own 59,796 shares of the Company’s stock valued at $2,251,319.40. Please see here for the disclosure of this sale. In the past three months, the insider has sold 62,028 shares of his company stock worth $2,355,849. 5.00% of the shares are currently owned by corporate insiders.
Federated Hermes Profile
Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. investment-related services for individual accounts, including sponsored investment firms, federated funds, individually managed accounts, institutional accounts, sub-advised funds, and other managed products in domestic and international markets; sponsors, markets and offers .
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