Federated Hermes, Inc. (NYSE:FHI) Shares Bought by Vestcor Inc

Vestcor Inc grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 157,884 shares of the company’s stock after acquiring an additional 8,259 shares during the period. Vestcor Inc’s holdings in Federated Hermes were worth $6,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Federated Hermes during the 4th quarter valued at $292,000. Inspire Investing LLC acquired a new stake in shares of Federated Hermes during the 4th quarter valued at $829,000. Sanctuary Advisors LLC lifted its position in shares of Federated Hermes by 78.5% during the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock valued at $916,000 after acquiring an additional 10,135 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Federated Hermes by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after acquiring an additional 152,926 shares during the last quarter. Finally, Fortis Advisors LLC acquired a new stake in shares of Federated Hermes during the 4th quarter valued at $727,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $37.68 on Thursday. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The business has a fifty day simple moving average of $38.75 and a 200 day simple moving average of $38.89. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.29%. Federated Hermes’s dividend payout ratio is 38.87%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI set a $44.00 target price on Federated Hermes in a report on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Royal Bank of Canada reduced their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and an average target price of $42.17.

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.