Vestcor Inc Acquires 129,586 Shares of Federated Hermes, Inc. $FHI

Vestcor Inc increased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 65.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,523 shares of the company’s stock after purchasing an additional 129,586 shares during the quarter. Vestcor Inc’s holdings in Federated Hermes were worth $16,956,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in shares of Federated Hermes during the 3rd quarter worth about $6,279,000. Jefferies Financial Group Inc. raised its holdings in Federated Hermes by 5.1% during the third quarter. Jefferies Financial Group Inc. now owns 56,340 shares of the company’s stock worth $2,926,000 after acquiring an additional 2,740 shares in the last quarter. Parallel Advisors LLC boosted its position in Federated Hermes by 6.1% during the third quarter. Parallel Advisors LLC now owns 11,208 shares of the company’s stock valued at $582,000 after purchasing an additional 644 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Federated Hermes by 5.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 41,411 shares of the company’s stock valued at $2,150,000 after purchasing an additional 2,293 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Federated Hermes by 262.7% in the third quarter. First Trust Advisors LP now owns 545,502 shares of the company’s stock valued at $28,328,000 after purchasing an additional 395,081 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 1.8%

Shares of Federated Hermes stock opened at $55.84 on Monday. The business has a fifty day simple moving average of $54.06 and a two-hundred day simple moving average of $52.32. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $57.33. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.30.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. The firm had revenue of $482.83 million for the quarter, compared to the consensus estimate of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share. Research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, February 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. Federated Hermes’s dividend payout ratio is presently 26.46%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Thursday, January 22nd. Argus raised shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Finally, TD Cowen reiterated a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.00.

Federated Hermes 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.