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

Teacher Retirement System of Texas lowered its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 39.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after purchasing an additional 614 shares in the last quarter. Quarry LP bought a new position in Federated Hermes in the 4th quarter worth $37,000. C M Bidwell & Associates Ltd. bought a new position in Federated Hermes in the 4th quarter worth $73,000. UMB Bank n.a. raised its holdings in Federated Hermes by 55.1% in the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after acquiring an additional 734 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Federated Hermes in the 4th quarter worth $90,000. Institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on FHI shares. Evercore ISI lifted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. 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 boosted their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.33.

Insiders Place Their Bets

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the sale, the vice president owned 316,930 shares of the company's stock, valued at $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded up $0.01 on Monday, hitting $45.55. 431,604 shares of the company were exchanged, compared to its average volume of 735,295. The company's 50 day moving average price is $42.63 and its two-hundred day moving average price is $40.25. Federated Hermes, Inc. has a one year low of $31.94 and a one year high of $46.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.86 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 (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The business's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.99%. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's payout ratio is presently 38.31%.

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.