State of New Jersey Common Pension Fund D Buys 967 Shares of Federated Hermes, Inc. (NYSE:FHI)

State of New Jersey Common Pension Fund D increased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,530 shares of the company’s stock after purchasing an additional 967 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Federated Hermes worth $2,152,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Meritage Portfolio Management lifted its holdings in shares of Federated Hermes by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock worth $374,000 after acquiring an additional 870 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Federated Hermes in the 3rd quarter valued at $1,317,000. ABLE Financial Group LLC increased its stake in shares of Federated Hermes by 23.9% in the 3rd quarter. ABLE Financial Group LLC now owns 31,144 shares of the company’s stock valued at $1,145,000 after purchasing an additional 6,016 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Federated Hermes during the 3rd quarter worth $1,695,000. Finally, James Investment Research Inc. lifted its position in shares of Federated Hermes by 9.7% during the 3rd quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock worth $290,000 after buying an additional 700 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Federated Hermes

In related news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes 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 sale, 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 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $42.01 on Friday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.21 and a beta of 1.15. Federated Hermes, Inc. has a twelve month low of $31.08 and a twelve month high of $42.56. The company’s fifty day moving average is $37.60 and its 200 day moving average is $34.73. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

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

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s dividend payout ratio is presently 39.87%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FHI. Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group increased their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI boosted their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

About Federated Hermes

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.