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

Teacher Retirement System of Texas lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,882 shares of the company’s stock after selling 13,059 shares during the period. Teacher Retirement System of Texas owned about 0.18% of Federated Hermes worth $7,212,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after purchasing an additional 430 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Federated Hermes during the second quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Federated Hermes in the 2nd quarter worth about $56,000. EverSource Wealth Advisors LLC grew its stake in Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock valued at $69,000 after buying an additional 679 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Federated Hermes during the 2nd quarter valued at $76,000. 75.94% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have recently weighed in on FHI shares. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and an average price target of $51.20.

Federated Hermes Trading Down 0.1%

NYSE:FHI opened at $53.37 on Tuesday. The company has a fifty day moving average of $51.99 and a 200 day 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 firm has a market capitalization of $4.14 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.56 and a beta of 0.75. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29.

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

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. Federated Hermes’s dividend payout ratio is currently 28.39%.

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.