VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.54 Million in Federated Hermes, Inc. $FHI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Federated Hermes, Inc. (NYSE:FHI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 57,300 shares of the company’s stock, valued at approximately $2,540,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Federated Hermes as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FHI. Farther Finance Advisors LLC grew its position in shares of Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after buying an additional 614 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Federated Hermes during the 1st quarter valued at about $401,000. Blue Trust Inc. grew its position in shares of Federated Hermes by 9.3% during the 1st quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock valued at $217,000 after buying an additional 453 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Federated Hermes during the 1st quarter valued at about $120,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Federated Hermes during the 1st quarter valued at about $2,635,000. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FHI. JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.33.

Federated Hermes Price Performance

NYSE FHI opened at $51.62 on Wednesday. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $54.42. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 0.59 and a beta of 0.80. The company has a 50-day moving average price of $52.59 and a two-hundred day moving average price of $46.59.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. Analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes’s dividend payout ratio is currently 30.16%.

Federated Hermes Company Profile

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.