Teachers Retirement System of The State of Kentucky grew its position in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 93.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,969 shares of the company’s stock after purchasing an additional 14,012 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Federated Hermes were worth $981,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Ergoteles LLC increased its position in Federated Hermes by 368.9% in the 2nd quarter. Ergoteles LLC now owns 277,818 shares of the company’s stock worth $9,960,000 after purchasing an additional 218,570 shares during the last quarter. Graham Capital Management L.P. increased its holdings in shares of Federated Hermes by 54.4% during the 3rd quarter. Graham Capital Management L.P. now owns 99,425 shares of the company’s stock valued at $3,368,000 after acquiring an additional 35,032 shares during the last quarter. FMR LLC increased its holdings in shares of Federated Hermes by 12.6% during the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after acquiring an additional 562,232 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Federated Hermes during the 3rd quarter valued at about $1,016,000. Finally, Legato Capital Management LLC increased its holdings in shares of Federated Hermes by 111.7% during the 3rd quarter. Legato Capital Management LLC now owns 34,788 shares of the company’s stock valued at $1,178,000 after acquiring an additional 18,355 shares during the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on FHI shares. JPMorgan Chase & Co. raised their target price on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. TD Cowen began coverage on Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, UBS Group began coverage on Federated Hermes in a report on Friday, January 5th. They set a “neutral” rating and a $35.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.43.
Read Our Latest Stock Report on Federated Hermes
Insiders Place Their Bets
In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the sale, the vice president now owns 276,084 shares of the company’s stock, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,435 shares of company stock valued at $4,092,831. 5.20% of the stock is currently owned by corporate insiders.
Federated Hermes Price Performance
Shares of FHI stock opened at $35.64 on Thursday. The stock’s fifty day simple moving average is $35.21 and its 200 day simple moving average is $33.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 0.79 and a beta of 1.12. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $45.55.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. Federated Hermes’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, analysts expect that Federated Hermes, Inc. will post 3.64 earnings per share for the current fiscal year.
Federated Hermes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is currently 32.84%.
Federated Hermes Company Profile
(Free Report)
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.
Further Reading
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