Teachers Retirement System of The State of Kentucky Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Teachers Retirement System of The State of Kentucky lowered its position in Federated Hermes, Inc. (NYSE:FHI) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 28,419 shares of the company’s stock after selling 550 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Federated Hermes were worth $1,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHI. FMR LLC raised its holdings 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 purchasing an additional 253,553 shares in the last quarter. Geode Capital Management LLC increased its holdings in Federated Hermes by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock valued at $52,731,000 after buying an additional 32,070 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Federated Hermes by 53.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after buying an additional 446,683 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 during the last quarter. Finally, LSV Asset Management boosted its position 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 acquiring an additional 283,300 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Up 4.5 %

Shares of NYSE:FHI opened at $40.04 on Monday. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a market cap of $3.26 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.00 and a beta of 0.84. The firm has a fifty day moving average price of $38.60 and a 200 day moving average price of $39.67.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 net margin of 16.44% and a return on equity of 30.31%. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s payout ratio is presently 38.87%.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of several research analyst reports. UBS Group raised their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI cut their price objective on shares of Federated Hermes from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 1st. Royal Bank of Canada cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and a consensus target price of $41.17.

About Federated Hermes

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.