Federated Hermes, Inc. (NYSE:FHI) Stake Boosted by Vestcor Inc

Vestcor Inc grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,625 shares of the company’s stock after purchasing an additional 9,885 shares during the quarter. Vestcor Inc owned approximately 0.18% of Federated Hermes worth $5,502,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FHI. Barclays PLC increased its position in Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after buying an additional 150,017 shares during the period. Weiss Asset Management LP bought a new position in shares of Federated Hermes during the third quarter worth about $434,000. Two Sigma Advisers LP increased its holdings in shares of Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after acquiring an additional 90,900 shares during the period. Quadrature Capital Ltd bought a new stake in Federated Hermes in the 3rd quarter valued at about $219,000. Finally, Prana Capital Management LP acquired a new position in Federated Hermes during the 3rd quarter valued at about $781,000. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of several analyst reports. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada boosted their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Evercore ISI upped their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes currently has an average rating of “Moderate Buy” and an average target price of $43.33.

Federated Hermes Stock Down 1.7 %

Shares of FHI stock opened at $42.08 on Tuesday. 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 quick ratio of 2.03 and a current ratio of 2.75. The business’s fifty day moving average is $39.95 and its 200-day moving average is $35.89. The stock has a market cap of $3.44 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio is presently 39.87%.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now owns 53,837 shares of the company’s stock, valued at $2,232,620.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock worth $1,185,871 in the last three months. 3.70% of the stock is currently owned by insiders.

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.