Vestcor Inc Has $22.54 Million Stock Position in Federated Hermes, Inc. $FHI

Vestcor Inc raised its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 32.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,900 shares of the company’s stock after purchasing an additional 106,377 shares during the period. Federated Hermes makes up approximately 0.6% of Vestcor Inc’s investment portfolio, making the stock its 28th biggest position. Vestcor Inc’s holdings in Federated Hermes were worth $22,541,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Federated Hermes by 16.5% during the fourth quarter. Parallel Advisors LLC now owns 13,057 shares of the company’s stock valued at $680,000 after purchasing an additional 1,849 shares in the last quarter. State of Wyoming raised its position in Federated Hermes by 53.8% during the fourth quarter. State of Wyoming now owns 6,662 shares of the company’s stock valued at $347,000 after purchasing an additional 2,331 shares in the last quarter. TD Asset Management Inc raised its position in Federated Hermes by 13.6% during the fourth quarter. TD Asset Management Inc now owns 62,700 shares of the company’s stock valued at $3,265,000 after purchasing an additional 7,500 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Federated Hermes by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 730,980 shares of the company’s stock valued at $38,062,000 after purchasing an additional 128,784 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC raised its position in Federated Hermes by 10.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 13,012 shares of the company’s stock valued at $678,000 after purchasing an additional 1,182 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

NYSE FHI opened at $57.13 on Friday. The firm’s fifty day moving average price is $56.23 and its two-hundred day moving average price is $54.39. The stock has a market cap of $4.34 billion, a PE ratio of 11.07, a PEG ratio of 2.04 and a beta of 0.65. Federated Hermes, Inc. has a fifty-two week low of $41.71 and a fifty-two week high of $59.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities analysts expect that Federated Hermes, Inc. will post 5.1 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. Federated Hermes’s payout ratio is presently 29.46%.

Insiders Place Their Bets

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the sale, the vice president owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 72,392 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the sale, the vice president directly owned 263,987 shares in the company, valued at approximately $14,843,989.01. The trade was a 21.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. TD Cowen lowered their price objective on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada lowered their price objective on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and an average price target of $54.00.

Federated Hermes Company 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.