Teacher Retirement System of Texas raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,404 shares of the company’s stock after purchasing an additional 2,664 shares during the period. Teacher Retirement System of Texas owned 0.06% of Federated Hermes worth $1,986,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. bought a new position in Federated Hermes during the 1st quarter valued at approximately $25,000. Global Retirement Partners LLC raised its position in Federated Hermes by 85.7% during the 1st quarter. Global Retirement Partners LLC now owns 767 shares of the company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. WealthPLAN Partners LLC bought a new position in Federated Hermes during the 1st quarter valued at approximately $40,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Federated Hermes during the 1st quarter valued at approximately $42,000. Finally, CENTRAL TRUST Co raised its position in Federated Hermes by 310.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock valued at $50,000 after purchasing an additional 1,150 shares during the last quarter. Institutional investors own 76.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada reduced their target price on Federated Hermes from $39.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, August 17th. Jefferies Financial Group reduced their target price on Federated Hermes from $41.00 to $38.00 in a report on Monday, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on Federated Hermes from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.
Federated Hermes Stock Performance
Federated Hermes stock opened at $32.98 on Thursday. The company has a quick ratio of 2.20, a current ratio of 2.96 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.91 billion, a P/E ratio of 10.99, a PEG ratio of 0.71 and a beta of 1.04. The stock’s 50 day moving average is $34.07 and its 200 day moving average is $36.71. Federated Hermes, Inc. has a twelve month low of $30.30 and a twelve month high of $45.55.
Federated Hermes (NYSE:FHI – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The company had revenue of $433.23 million for the quarter, compared to the consensus estimate of $392.73 million. Federated Hermes had a return on equity of 27.30% and a net margin of 17.05%. On average, equities research analysts predict that Federated Hermes, Inc. will post 3.28 earnings per share for the current fiscal year.
Federated Hermes Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 22nd were paid a $0.035 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.14 annualized dividend and a dividend yield of 0.42%. Federated Hermes’s payout ratio is currently 37.33%.
Insider Buying and Selling at Federated Hermes
In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 7,800 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $34.73, for a total transaction of $270,894.00. Following the sale, the chief executive officer now directly owns 185,634 shares in the company, valued at approximately $6,447,068.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.
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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