Teacher Retirement System of Texas Has $6.59 Million Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Teacher Retirement System of Texas lowered its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 39.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,512 shares of the company's stock after selling 103,329 shares during the quarter. Teacher Retirement System of Texas owned about 0.20% of Federated Hermes worth $6,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of Federated Hermes by 4.5% in the 4th quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after buying an additional 253,553 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Federated Hermes by 3.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company's stock valued at $77,626,000 after purchasing an additional 63,664 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after buying an additional 32,070 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after buying an additional 145,878 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Federated Hermes by 48.2% during the 4th quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after buying an additional 283,300 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Trading Up 0.9%

NYSE FHI traded up $0.40 on Thursday, hitting $46.30. The company's stock had a trading volume of 438,742 shares, compared to its average volume of 734,324. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1-year low of $31.94 and a 1-year high of $46.84. The company's 50-day moving average is $42.95 and its 200 day moving average is $40.35. The firm has a market cap of $3.66 billion, a PE ratio of 13.04, a PEG ratio of 0.85 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. The business had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. Federated Hermes's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is currently 38.31%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a research note on Wednesday. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Evercore ISI upped their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Finally, Royal Bank Of Canada upped their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of "Hold" and an average price target of $42.50.

Federated Hermes 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.