Meritage Portfolio Management Purchases 1,261 Shares of Federated Hermes, Inc. (NYSE:FHI)

Meritage Portfolio Management boosted its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,441 shares of the company’s stock after acquiring an additional 1,261 shares during the quarter. Meritage Portfolio Management’s holdings in Federated Hermes were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Federated Hermes during the 4th quarter worth about $43,000. Sound Income Strategies LLC acquired a new stake in shares of Federated Hermes during the 4th quarter worth about $53,000. Neo Ivy Capital Management acquired a new stake in shares of Federated Hermes during the 3rd quarter worth about $60,000. Finally, CWM LLC lifted its stake in shares of Federated Hermes by 74.7% during the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after buying an additional 1,079 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

FHI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lowered their price target 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. Finally, Evercore ISI raised their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment 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, Federated Hermes presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Federated Hermes Price Performance

FHI stock opened at $39.42 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The firm has a market cap of $3.23 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.47 and a beta of 1.16. The company’s 50-day moving average price is $40.50 and its two-hundred day moving average price is $38.07.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, analysts anticipate that Federated Hermes, Inc. will post 4.14 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, February 7th. Federated Hermes’s dividend payout ratio is currently 38.87%.

Insider Buying and Selling at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 4,454 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total transaction of $184,306.52. Following the sale, the chief executive officer now directly owns 184,642 shares of the company’s stock, valued at approximately $7,640,485.96. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,128 shares of company stock valued at $502,042 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

About Federated Hermes

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.