Federated Hermes, Inc. $FHI Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 36.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,343 shares of the company’s stock after purchasing an additional 14,123 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Federated Hermes worth $2,364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc bought a new position in shares of Federated Hermes in the 2nd quarter worth about $44,000. Elevation Point Wealth Partners LLC acquired a new stake in Federated Hermes during the second quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Federated Hermes in the second quarter worth about $56,000. Northwestern Mutual Wealth Management Co. boosted its stake in Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after acquiring an additional 287 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Federated Hermes by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock valued at $69,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 0.4%

NYSE:FHI opened at $52.71 on Friday. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.58 and a current ratio of 3.13. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The business has a fifty day moving average of $50.20 and a 200-day moving average of $49.52.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.23. The business had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. Equities analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were issued a $0.34 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s dividend payout ratio (DPR) is 28.39%.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $48.54, for a total transaction of $728,100.00. Following the sale, the chief executive officer owned 157,039 shares of the company’s stock, valued at $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the sale, the insider owned 57,500 shares of the company’s stock, valued at $2,751,375. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,709 shares of company stock worth $1,049,146 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FHI has been the topic of several recent research reports. Cowen reissued a “hold” rating on shares of Federated Hermes in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. TD Cowen raised their target price on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.67.

Federated Hermes Company 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.