Whittier Trust Co. of Nevada Inc. Invests $518,000 in Federated Hermes, Inc. $FHI

Whittier Trust Co. of Nevada Inc. purchased a new stake in Federated Hermes, Inc. (NYSE:FHI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,000 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds have also added to or reduced their stakes in FHI. Burney Co. lifted its holdings in shares of Federated Hermes by 61.8% in the fourth quarter. Burney Co. now owns 218,661 shares of the company’s stock valued at $11,386,000 after purchasing an additional 83,529 shares in the last quarter. LSV Asset Management grew its holdings in Federated Hermes by 20.4% during the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock worth $150,497,000 after buying an additional 489,275 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Federated Hermes by 36.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 116,278 shares of the company’s stock valued at $6,055,000 after buying an additional 31,240 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Federated Hermes in the 3rd quarter valued at $6,279,000. Finally, Vestcor Inc lifted its stake in Federated Hermes by 32.6% during the 4th quarter. Vestcor Inc now owns 432,900 shares of the company’s stock valued at $22,541,000 after acquiring an additional 106,377 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FHI shares. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Evercore reissued an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a research report on Monday, June 8th. TD Cowen cut their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Two 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.75.

Federated Hermes Stock Up 0.9%

Shares of NYSE:FHI opened at $58.41 on Wednesday. Federated Hermes, Inc. has a 1 year low of $45.03 and a 1 year high of $60.17. The company has a market capitalization of $4.43 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.07 and a beta of 0.65. The business has a fifty day moving average price of $56.54 and a two-hundred day moving average price of $55.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. Analysts forecast that Federated Hermes, Inc. will post 5.12 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.38 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 8th. Federated Hermes’s payout ratio is presently 29.46%.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares in the company, valued at $8,674,165.84. This trade represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of Federated Hermes stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This trade represents a 5.07% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by insiders.

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.