KLP Kapitalforvaltning AS Has $1.93 Million Stock Position in Federated Hermes, Inc. $FHI

KLP Kapitalforvaltning AS increased its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,500 shares of the company’s stock after buying an additional 1,200 shares during the period. KLP Kapitalforvaltning AS owned 0.05% of Federated Hermes worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FHI. Charles Schwab Investment Management Inc. lifted its position in Federated Hermes by 249.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock worth $130,446,000 after buying an additional 2,284,509 shares in the last quarter. Empowered Funds LLC acquired a new position in Federated Hermes during the 1st quarter worth about $14,048,000. Invenomic Capital Management LP acquired a new position in Federated Hermes during the 1st quarter worth about $11,696,000. Jacobs Levy Equity Management Inc. acquired a new position in Federated Hermes during the 1st quarter valued at about $11,208,000. Finally, Vanguard Group Inc. lifted its position in Federated Hermes by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after purchasing an additional 265,590 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $50.96 on Monday. 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 firm’s 50 day simple moving average is $52.52 and its 200 day simple moving average is $46.06. 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, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $54.42.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $424.83 million. During the same period in the prior year, the business earned $0.96 EPS. Federated Hermes’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

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

Analyst Upgrades and Downgrades

FHI has been the topic of a number of research reports. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. Evercore ISI upped their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target 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.