Teacher Retirement System of Texas Sells 13,059 Shares of Federated Hermes, Inc. $FHI

Teacher Retirement System of Texas trimmed its stake in Federated Hermes, Inc. (NYSE:FHI) by 8.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 138,882 shares of the company’s stock after selling 13,059 shares during the quarter. Teacher Retirement System of Texas’ holdings in Federated Hermes were worth $7,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Federated Hermes by 236.0% in the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after purchasing an additional 6,244 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Federated Hermes in the first quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Federated Hermes by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock valued at $9,769,000 after purchasing an additional 24,960 shares during the last quarter. GAMMA Investing LLC lifted its position in Federated Hermes by 21.3% during the second quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $101,000 after purchasing an additional 401 shares during the period. Finally, TD Private Client Wealth LLC grew its position in Federated Hermes by 51.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 5,064 shares of the company’s stock worth $224,000 after purchasing an additional 1,730 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Dolores D. Dudiak sold 999 shares of Federated Hermes stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total transaction of $47,822.13. Following the completion of the transaction, the vice president directly owned 88,223 shares of the company’s stock, valued at approximately $4,223,235.01. The trade was a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $59,764.65. Following the transaction, the insider owned 57,500 shares in the company, valued at $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,709 shares of company stock valued at $1,049,146 over the last three months. 3.80% of the stock is owned by company insiders.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $53.37 on Tuesday. The firm has a fifty day simple moving average of $51.99 and a two-hundred day simple moving average of $51.34. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $55.13. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.14 billion, a P/E ratio of 11.14, a PEG ratio of 0.56 and a beta of 0.75.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The company had revenue of $469.45 million during the quarter, compared to analyst estimates of $442.67 million. During the same quarter last year, the business posted $1.06 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were given a $0.34 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is currently 28.39%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FHI. TD Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Finally, Zacks Research cut Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.20.

Federated Hermes Profile

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.