Whittier Trust Co. of Nevada Inc. Acquires Shares of 7,000 Federated Hermes, Inc. (NYSE:FHI)

By
March 24, 2024

Whittier Trust Co. of Nevada Inc. acquired a new stake in Federated Hermes, Inc. (NYSE:FHI – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,000 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after acquiring an additional 466,504 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Federated Hermes by 0.8% in the first quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock valued at $314,407,000 after acquiring an additional 73,168 shares in the last quarter. FMR LLC lifted its position in shares of Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after acquiring an additional 562,232 shares in the last quarter. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Federated Hermes by 0.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock valued at $107,453,000 after acquiring an additional 27,321 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Federated Hermes by 0.8% in the first quarter. State Street Corp now owns 2,898,040 shares of the company’s stock valued at $116,327,000 after acquiring an additional 24,211 shares in the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Meter Stephen Van sold 1,660 shares of Federated Hermes stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock valued at $4,092,831 over the last quarter. 5.20% of the stock is owned by insiders.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $35.41 on Friday. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $45.55. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The business’s 50 day moving average price is $35.32 and its 200 day moving average price is $33.88.

Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The firm had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. On average, research analysts predict that Federated Hermes, Inc. will post 3.64 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a yield of 3.16%. Federated Hermes’s dividend payout ratio (DPR) is 32.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Federated Hermes in a research report on Friday, January 5th. They issued a “neutral” rating and a $35.00 target price on the stock. TD Cowen began coverage on Federated Hermes in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Royal Bank of Canada lifted their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Check Out Our Latest Stock Report on Federated Hermes

Federated Hermes Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding FHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Federated Hermes, Inc. (NYSE:FHI – Free Report).

Institutional Ownership by Quarter for Federated Hermes (NYSE:FHI)

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