Federated Hermes, Inc. $FHI Stake Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,387 shares of the company’s stock after selling 566 shares during the quarter. New York State Teachers Retirement System’s holdings in Federated Hermes were worth $4,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FHI. Farther Finance Advisors LLC boosted its position in Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock worth $35,000 after acquiring an additional 614 shares during the period. SG Americas Securities LLC acquired a new stake in Federated Hermes during the 1st quarter worth about $401,000. Blue Trust Inc. boosted its position in Federated Hermes by 9.3% during the 1st quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock worth $217,000 after acquiring an additional 453 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Federated Hermes during the 1st quarter worth about $120,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Federated Hermes during the 1st quarter worth about $2,635,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Up 0.5%

Shares of Federated Hermes stock opened at $51.75 on Tuesday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.58 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $54.42. The stock has a 50-day simple moving average of $52.60 and a 200-day simple moving average of $46.55.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same period last year, the business earned $0.96 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 30.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FHI shares. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Royal Bank Of Canada lifted their price target on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Finally, Evercore ISI lifted their price target on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.33.

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.