Vestcor Inc Has $16.96 Million Stake in Federated Hermes, Inc. $FHI

Key Points

• Vestcor Inc raised its stake in Federated Hermes by 65.8%, now owning 326,523 shares worth $16.96 million (about 0.42% of the company), and institutions hold roughly 75.94% of the stock.
• Federated Hermes beat Q results with $1.39 EPS vs $1.20 expected and $482.8M revenue vs $468.5M, showing a 34.25% ROE and 22.4% net margin; the stock trades at a PE of 10.86 and market cap of about $4.33B.
• Analysts have a consensus Hold rating with a $55 target after several mixed rating changes, and the company pays a $0.34 quarterly dividend (≈2.4% yield).

Vestcor Inc raised its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 65.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 326,523 shares of the company's stock after buying an additional 129,586 shares during the quarter. Vestcor Inc owned about 0.42% of Federated Hermes worth $16,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MAI Capital Management increased its stake in Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company's stock valued at $25,000 after purchasing an additional 221 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Federated Hermes by 97.7% during the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock worth $45,000 after purchasing an additional 430 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Federated Hermes during the second quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Federated Hermes in the 2nd quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company's stock valued at $69,000 after buying an additional 679 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on FHI shares. Zacks Research downgraded Federated Hermes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 9th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $55.00 price target (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. TD Cowen reiterated a "hold" rating on shares of Federated Hermes in a report on Wednesday, January 14th. Finally, Argus raised Federated Hermes to a "hold" rating in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $55.00.

Federated Hermes Price Performance

FHI stock opened at $55.84 on Monday. The stock has a 50-day moving average price of $54.06 and a two-hundred day moving average price of $52.32. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $57.33. The stock has a market cap of $4.33 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.54 and a beta of 0.73. The company has a current ratio of 2.75, a quick ratio of 2.30 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.19. The company had revenue of $482.83 million for the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The company's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

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

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.

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