VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.83 Million Position in Federated Hermes, Inc. $FHI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,300 shares of the company’s stock, valued at approximately $2,833,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Federated Hermes at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in Federated Hermes by 4,983.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,520,641 shares of the company’s stock valued at $249,630,000 after buying an additional 4,431,714 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after acquiring an additional 2,577,442 shares in the last quarter. Invesco Ltd. increased its stake in shares of Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after acquiring an additional 670,643 shares during the period. Victory Capital Management Inc. increased its stake in shares of Federated Hermes by 78.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,622 shares of the company’s stock worth $72,618,000 after acquiring an additional 615,130 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Federated Hermes by 20.1% during the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after purchasing an additional 498,202 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

FHI opened at $60.99 on Friday. The stock has a market cap of $4.55 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The stock’s 50 day simple moving average is $61.35 and its 200 day simple moving average is $58.24. Federated Hermes, Inc. has a 1-year low of $46.66 and a 1-year high of $67.20.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.19. The firm had revenue of $502.78 million during the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.Federated Hermes’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, equities analysts anticipate that Federated Hermes, Inc. will post 5.5 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $0.38 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is currently 28.25%.

Analyst Upgrades and Downgrades

FHI has been the subject of several recent analyst reports. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Evercore reiterated an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a research report on Monday, August 10th. Royal Bank Of Canada raised their target price on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 17th. Finally, Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

About Federated Hermes

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.