Louisiana State Employees Retirement System Makes New $1.21 Million Investment in Federated Hermes, Inc. $FHI

Louisiana State Employees Retirement System bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,400 shares of the company’s stock, valued at approximately $1,214,000.

A number of other hedge funds also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in Federated Hermes by 21.9% during the 1st quarter. Ritholtz Wealth Management now owns 103,840 shares of the company’s stock valued at $5,889,000 after purchasing an additional 18,653 shares during the period. MBM Wealth Consultants LLC boosted its stake in Federated Hermes by 5.9% during the first quarter. MBM Wealth Consultants LLC now owns 10,623 shares of the company’s stock worth $602,000 after buying an additional 595 shares in the last quarter. RFG Advisory LLC bought a new stake in Federated Hermes in the first quarter valued at about $979,000. Andina Capital Management LLC bought a new stake in shares of Federated Hermes in the 1st quarter valued at approximately $569,000. Finally, AdvisorNet Financial Inc grew its position in Federated Hermes by 38.4% in the first quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company’s stock valued at $89,000 after acquiring an additional 434 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. TD Cowen lowered their price objective on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Evercore reiterated an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a research report on Monday, June 8th. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.75.

Federated Hermes Stock Down 0.1%

Federated Hermes stock opened at $56.52 on Friday. The company has a 50 day moving average of $56.46 and a 200-day moving average of $55.46. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a twelve month low of $45.03 and a twelve month high of $60.17. The stock has a market capitalization of $4.29 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.02 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 5.12 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a dividend of $0.38 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.7%. Federated Hermes’s dividend payout ratio is currently 29.46%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the sale, the vice president owned 74,921 shares of the company’s stock, valued at $4,060,718.20. This trade represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is currently owned by corporate insiders.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.