New York State Teachers Retirement System Has $4.66 Million Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

New York State Teachers Retirement System trimmed its holdings in Federated Hermes, Inc. (NYSE:FHI) by 5.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 126,742 shares of the company’s stock after selling 7,364 shares during the quarter. New York State Teachers Retirement System’s holdings in Federated Hermes were worth $4,660,000 at the end of the most recent reporting period.

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

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction that occurred on 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 approximately $7,138,766.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following 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 document filed with the SEC, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the 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 transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $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. 3.70% of the stock is currently owned by insiders.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $40.43 on Wednesday. The firm’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $34.42. Federated Hermes, Inc. has a fifty-two week low of $31.08 and a fifty-two week high of $40.65. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same period last year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.07%. Federated Hermes’s dividend payout ratio (DPR) is currently 39.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FHI shares. UBS Group boosted their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Evercore ISI lifted their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.