Texas Permanent School Fund Corp grew its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 33.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 75,813 shares of the company’s stock after acquiring an additional 18,980 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Federated Hermes worth $3,043,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Federated Hermes by 3.7% during the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after acquiring an additional 466,504 shares during the last quarter. Vanguard Group Inc. raised its stake in Federated Hermes by 0.8% during the first quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock worth $314,407,000 after buying an additional 73,168 shares during the last quarter. Schneider Downs Wealth Management Advisors LP raised its stake in Federated Hermes by 39.2% during the fourth quarter. Schneider Downs Wealth Management Advisors LP now owns 4,504,318 shares of the company’s stock worth $163,552,000 after buying an additional 1,269,097 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Federated Hermes by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock worth $76,638,000 after buying an additional 40,797 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Federated Hermes by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,190,575 shares of the company’s stock worth $74,611,000 after buying an additional 126,825 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.
Insiders Place Their Bets
In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 43,135 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $36.10, for a total value of $1,557,173.50. Following the completion of the transaction, the chief executive officer now owns 193,434 shares of the company’s stock, valued at approximately $6,982,967.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Saker Anwar Nusseibeh sold 43,135 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $36.10, for a total value of $1,557,173.50. Following the completion of the sale, the chief executive officer now owns 193,434 shares of the company’s stock, valued at approximately $6,982,967.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Meter Stephen Van sold 4,480 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $39.39, for a total transaction of $176,467.20. Following the completion of the sale, the vice president now directly owns 34,388 shares of the company’s stock, valued at approximately $1,354,543.32. The disclosure for this sale can be found here. Insiders sold a total of 199,957 shares of company stock valued at $7,300,425 in the last quarter. Corporate insiders own 5.20% of the company’s stock.
Federated Hermes Stock Performance
Federated Hermes (NYSE:FHI – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Federated Hermes had a net margin of 16.85% and a return on equity of 27.83%. The company had revenue of $382.20 million during the quarter, compared to analysts’ expectations of $390.85 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. Federated Hermes’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts predict that Federated Hermes, Inc. will post 3.27 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. StockNews.com assumed coverage on shares of Federated Hermes in a report on Thursday, May 18th. They issued a “buy” rating for the company. Evercore ISI raised their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Federated Hermes from $44.00 to $45.00 in a report on Monday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Federated Hermes from $48.00 to $46.00 in a report on Wednesday, July 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price objective on shares of Federated Hermes in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.60.
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.
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