Federated Hermes, Inc. (NYSE:FHI) Holdings Decreased by Vestcor Inc

Vestcor Inc trimmed its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,970 shares of the company's stock after selling 5,914 shares during the quarter. Vestcor Inc owned approximately 0.19% of Federated Hermes worth $6,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meritage Portfolio Management increased its stake in shares of Federated Hermes by 100.7% during the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock valued at $936,000 after purchasing an additional 11,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Federated Hermes in the first quarter worth about $2,584,000. Ritholtz Wealth Management bought a new position in Federated Hermes in the 1st quarter worth about $1,283,000. New Age Alpha Advisors LLC bought a new stake in shares of Federated Hermes in the 4th quarter valued at about $461,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Federated Hermes during the fourth quarter valued at about $585,000. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FHI has been the topic of several analyst reports. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. Evercore ISI lifted their target price on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and a consensus target price of $42.50.

Federated Hermes Price Performance

Federated Hermes stock traded down $0.32 during midday trading on Friday, reaching $49.25. 1,563,862 shares of the company were exchanged, compared to its average volume of 559,517. Federated Hermes, Inc. has a 1 year low of $31.94 and a 1 year high of $50.09. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 0.91 and a beta of 0.77. The firm's 50-day simple moving average is $44.81 and its 200-day simple moving average is $41.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.51%. Federated Hermes's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. On average, analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 8th. Federated Hermes's payout ratio is currently 38.31%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president directly owned 316,930 shares in the company, valued at $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

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.