42,300 Shares in Federated Hermes, Inc. (NYSE:FHI) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Federated Hermes, Inc. (NYSE:FHI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,300 shares of the company’s stock, valued at approximately $1,739,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Federated Hermes as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in Federated Hermes by 776.6% during the 4th quarter. Sei Investments Co. now owns 112,018 shares of the company’s stock valued at $4,605,000 after buying an additional 99,240 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Federated Hermes by 6.4% in the 4th quarter. Teacher Retirement System of Texas now owns 264,841 shares of the company’s stock worth $10,888,000 after purchasing an additional 16,033 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Federated Hermes during the 4th quarter valued at about $317,000. Corient Private Wealth LLC grew its position in shares of Federated Hermes by 33.2% during the fourth quarter. Corient Private Wealth LLC now owns 53,892 shares of the company’s stock valued at $2,212,000 after purchasing an additional 13,439 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Federated Hermes in the fourth quarter worth about $399,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Federated Hermes Price Performance

FHI stock opened at $40.70 on Friday. The stock has a market cap of $3.31 billion, a PE ratio of 12.76, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a 50-day moving average price of $38.95 and a 200 day moving average price of $39.34. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, February 7th. Federated Hermes’s payout ratio is presently 38.87%.

Analyst Upgrades and Downgrades

FHI has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada decreased their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 28th. UBS Group increased their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.17.

Federated Hermes 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.