VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 51,300 Federated Hermes, Inc. $FHI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Federated Hermes, Inc. (NYSE:FHI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,300 shares of the company’s stock, valued at approximately $2,833,000.

A number of other hedge funds have also modified their holdings of the business. California State Teachers Retirement System raised its position in shares of Federated Hermes by 4,983.5% during the 2nd quarter. California State Teachers Retirement System now owns 4,520,641 shares of the company’s stock worth $249,630,000 after purchasing an additional 4,431,714 shares during the last quarter. Schneider Downs Wealth Management Advisors LP grew its holdings in Federated Hermes by 3,229.0% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after buying an additional 2,577,442 shares during the last quarter. Invesco Ltd. grew its holdings in Federated Hermes by 29.6% during the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after buying an additional 670,643 shares during the last quarter. Victory Capital Management Inc. increased its position in Federated Hermes by 78.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,622 shares of the company’s stock worth $72,618,000 after buying an additional 615,130 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Federated Hermes by 20.1% during the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after buying an additional 498,202 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FHI. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Royal Bank Of Canada lifted their price objective on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 17th. Evercore restated an “outperform” rating and issued a $65.00 target price on shares of Federated Hermes in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price target on shares of Federated Hermes in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Federated Hermes Price Performance

FHI stock opened at $60.99 on Friday. Federated Hermes, Inc. has a 52-week low of $46.66 and a 52-week high of $67.20. The stock’s fifty day simple moving average is $61.35 and its 200-day simple moving average is $58.24. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.19 by $0.19. The firm had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. Equities research analysts expect that Federated Hermes, Inc. will post 5.5 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a $0.38 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.52 annualized dividend and a yield of 2.5%. Federated Hermes’s payout ratio is 28.25%.

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.