California State Teachers Retirement System Acquires 24,282 Shares of Federated Hermes, Inc. $FHI

California State Teachers Retirement System grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 37.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 88,927 shares of the company's stock after purchasing an additional 24,282 shares during the period. California State Teachers Retirement System owned about 0.12% of Federated Hermes worth $5,043,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Torren Management LLC purchased a new position in shares of Federated Hermes in the 4th quarter worth approximately $25,000. Root Financial Partners LLC grew its stake in Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company's stock valued at $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company's stock valued at $38,000 after purchasing an additional 401 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Federated Hermes by 145.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company's stock worth $44,000 after purchasing an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock valued at $45,000 after acquiring an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FHI shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $58.00 price objective on shares of Federated Hermes in a research note on Monday. Wall Street Zen upgraded Federated Hermes from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Evercore restated an "outperform" rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. JPMorgan Chase & Co. lowered their target price on shares of Federated Hermes from $56.00 to $53.00 and set an "underweight" rating on the stock in a research note on Monday, May 4th. Finally, Royal Bank Of Canada upped their price objective on Federated Hermes from $54.00 to $57.00 and gave the stock a "sector perform" rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $56.20.

Federated Hermes Stock Down 1.2%

NYSE FHI opened at $63.32 on Friday. Federated Hermes, Inc. has a 1 year low of $46.66 and a 1 year high of $67.20. The stock has a market capitalization of $4.81 billion, a PE ratio of 11.77, a PEG ratio of 1.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.73. The business's 50-day moving average is $58.43 and its 200 day moving average is $56.60.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The business had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. During the same quarter in the prior year, the company posted $1.16 EPS. Federated Hermes's quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts forecast that Federated Hermes, Inc. will post 5.43 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. Federated Hermes's dividend payout ratio is currently 28.25%.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer owned 151,276 shares of the company's stock, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.20% of the stock is currently owned by insiders.

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.

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