State of New Jersey Common Pension Fund D Sells 6,610 Shares of Federated Hermes, Inc. $FHI

State of New Jersey Common Pension Fund D decreased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,254 shares of the company’s stock after selling 6,610 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Federated Hermes were worth $1,961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in Federated Hermes during the 2nd quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. boosted its stake in Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after acquiring an additional 287 shares during the last quarter. Virtus Advisers LLC bought a new position in Federated Hermes during the 1st quarter worth approximately $72,000. GAMMA Investing LLC boosted its stake in Federated Hermes by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $101,000 after acquiring an additional 401 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in Federated Hermes by 20.3% during the 1st quarter. TD Private Client Wealth LLC now owns 3,334 shares of the company’s stock worth $136,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

NYSE FHI opened at $48.51 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The company has a market capitalization of $3.76 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.54 and a beta of 0.80. The firm’s 50 day moving average is $51.87 and its 200-day moving average is $47.24.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company had revenue of $469.45 million for the quarter, compared to the consensus estimate of $442.67 million. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. Federated Hermes’s dividend payout ratio (DPR) is 28.39%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Evercore ISI raised their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.80.

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.