State of New Jersey Common Pension Fund D Sells 7,666 Shares of Federated Hermes, Inc. (NYSE:FHI)

State of New Jersey Common Pension Fund D reduced its position in Federated Hermes, Inc. (NYSE:FHI) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,864 shares of the company’s stock after selling 7,666 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Federated Hermes worth $2,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC bought a new position in Federated Hermes in the fourth quarter worth about $829,000. Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after purchasing an additional 152,926 shares in the last quarter. Fortis Advisors LLC bought a new position in Federated Hermes in the fourth quarter worth about $727,000. Barclays PLC raised its holdings in Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after purchasing an additional 150,017 shares in the last quarter. Finally, Factorial Partners LLC raised its holdings in Federated Hermes by 11.5% in the third quarter. Factorial Partners LLC now owns 160,239 shares of the company’s stock worth $5,892,000 after purchasing an additional 16,500 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $37.72 on Friday. The business’s 50 day moving average price is $39.49 and its 200 day moving average price is $38.42. The firm has a market cap of $3.09 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.00 and a beta of 1.16. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.31 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.24 annualized dividend and a yield of 3.29%. Federated Hermes’s dividend payout ratio is presently 38.87%.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FHI. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group upped their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.17.

Federated Hermes 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.