Nisa Investment Advisors LLC Grows Position in Federated Hermes, Inc. (NYSE:FHI)

Nisa Investment Advisors LLC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,713 shares of the company’s stock after acquiring an additional 317 shares during the period. Nisa Investment Advisors LLC’s holdings in Federated Hermes were worth $681,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Federated Hermes in the 4th quarter valued at about $3,367,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Federated Hermes by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,666 shares of the company’s stock valued at $850,000 after purchasing an additional 4,028 shares during the period. Corient Private Wealth LLC grew its holdings in Federated Hermes by 33.2% in the fourth quarter. Corient Private Wealth LLC now owns 53,892 shares of the company’s stock valued at $2,212,000 after purchasing an additional 13,439 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Federated Hermes in the 4th quarter worth $317,000. Finally, Teacher Retirement System of Texas increased its holdings in Federated Hermes by 6.4% in the 4th quarter. Teacher Retirement System of Texas now owns 264,841 shares of the company’s stock worth $10,888,000 after acquiring an additional 16,033 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president directly owned 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Federated Hermes Trading Down 2.8%

Shares of FHI opened at $45.31 on Wednesday. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $43.31 and a 200 day moving average price of $40.48. Federated Hermes, Inc. has a 12-month low of $31.94 and a 12-month high of $46.84. The firm has a market capitalization of $3.58 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 0.78.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to analysts’ expectations of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.00%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. Federated Hermes’s dividend payout ratio is presently 38.31%.

Analysts Set New Price Targets

Several brokerages recently commented on FHI. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Evercore ISI upped their price target on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their target price on Federated Hermes from $39.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada raised their target price on Federated Hermes from $43.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, July 10th. Finally, TD Cowen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.50.

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.