Federated Hermes, Inc. $FHI Shares Acquired by Kendall Capital Management

Kendall Capital Management increased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 131,570 shares of the company’s stock after buying an additional 9,460 shares during the period. Federated Hermes makes up about 1.2% of Kendall Capital Management’s investment portfolio, making the stock its 16th biggest position. Kendall Capital Management’s holdings in Federated Hermes were worth $7,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted its holdings in Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after buying an additional 237 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after buying an additional 594 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Federated Hermes by 24.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after acquiring an additional 194 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Federated Hermes during the second quarter valued at about $85,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Federated Hermes by 38.4% during the first quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company’s stock valued at $89,000 after acquiring an additional 434 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FHI. TD Cowen dropped their target price on Federated Hermes from $60.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 9th. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and an average target price of $57.80.

Federated Hermes Stock Down 1.3%

Shares of NYSE:FHI opened at $56.90 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $59.23 and a 200 day simple moving average of $58.30. The firm has a market cap of $4.25 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.50 and a beta of 0.66. Federated Hermes, Inc. has a 12-month low of $46.66 and a 12-month high of $67.20.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 5.51 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 28.25%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.