Meritage Portfolio Management Increases Stake in Federated Hermes, Inc. $FHI

Meritage Portfolio Management increased its holdings in Federated Hermes, Inc. (NYSE:FHI) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,972 shares of the company’s stock after buying an additional 1,008 shares during the quarter. Meritage Portfolio Management’s holdings in Federated Hermes were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC increased its holdings in Federated Hermes by 32.1% in the 2nd quarter. CWM LLC now owns 4,650 shares of the company’s stock worth $206,000 after buying an additional 1,129 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Federated Hermes by 22.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,421 shares of the company’s stock worth $1,171,000 after buying an additional 4,774 shares during the period. Inspire Investing LLC acquired a new position in Federated Hermes in the 2nd quarter worth approximately $895,000. Blue Trust Inc. increased its holdings in Federated Hermes by 31.3% in the 2nd quarter. Blue Trust Inc. now owns 6,977 shares of the company’s stock worth $309,000 after buying an additional 1,663 shares during the period. Finally, KLP Kapitalforvaltning AS increased its holdings in Federated Hermes by 2.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the company’s stock worth $1,928,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Federated Hermes Price Performance

Federated Hermes stock opened at $50.96 on Monday. The company’s fifty day moving average price is $52.52 and its 200 day moving average price is $46.06. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The stock has a market capitalization of $3.95 billion, a P/E 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 quick ratio of 2.32 and a current ratio of 3.37.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm had revenue of $424.84 million for the quarter, compared to analysts’ expectations of $424.83 million. During the same quarter last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. Federated Hermes’s dividend payout ratio (DPR) 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.