KLP Kapitalforvaltning AS Acquires 1,200 Shares of Federated Hermes, Inc. $FHI

KLP Kapitalforvaltning AS raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 43,500 shares of the company’s stock after buying an additional 1,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Federated Hermes were worth $1,928,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG grew its stake in shares of Federated Hermes by 38.5% during the 1st quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock worth $987,000 after acquiring an additional 6,734 shares in the last quarter. Meritage Portfolio Management grew its stake in shares of Federated Hermes by 100.7% during the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after acquiring an additional 11,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Federated Hermes during the 1st quarter worth approximately $2,584,000. Ritholtz Wealth Management bought a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,283,000. Finally, LPL Financial LLC grew its stake in shares of Federated Hermes by 373.9% during the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock worth $3,729,000 after acquiring an additional 72,173 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Down 3.0%

Shares of Federated Hermes stock opened at $50.96 on Monday. The business has a fifty day simple moving average of $52.52 and a two-hundred day simple moving average of $46.06. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

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

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.7%. Federated Hermes’s dividend payout ratio (DPR) is currently 30.16%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore ISI increased their price objective on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Royal Bank Of Canada increased their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.33.

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.