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

Meritage Portfolio Management grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,972 shares of the company’s stock after purchasing 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 quarter.

Other large investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its stake in Federated Hermes by 38.5% in the first quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock worth $987,000 after acquiring an additional 6,734 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federated Hermes in the first quarter worth about $2,584,000. Ritholtz Wealth Management purchased a new stake in Federated Hermes in the first quarter worth about $1,283,000. LPL Financial LLC lifted its stake in Federated Hermes by 373.9% in the first quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock worth $3,729,000 after acquiring an additional 72,173 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Federated Hermes in the first quarter worth about $214,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FHI. Evercore ISI upped 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. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target 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 equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $48.33.

Federated Hermes Stock Performance

FHI stock opened at $50.96 on Monday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.68 and a beta of 0.80. The firm has a 50-day simple moving average of $52.52 and a two-hundred day simple moving average of $46.06. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. 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 announced its quarterly earnings data on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. Federated Hermes’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. On average, equities analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 30.16%.

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.