Kendall Capital Management Buys 7,790 Shares of Federated Hermes, Inc. (NYSE:FHI)

Kendall Capital Management grew its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 13.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,925 shares of the company’s stock after buying an additional 7,790 shares during the period. Kendall Capital Management’s holdings in Federated Hermes were worth $2,710,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Federated Hermes in the 4th quarter worth about $43,000. Sound Income Strategies LLC purchased a new stake in shares of Federated Hermes during the 4th quarter valued at about $53,000. Neo Ivy Capital Management purchased a new stake in shares of Federated Hermes during the 3rd quarter valued at about $60,000. GAMMA Investing LLC grew its stake in shares of Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock valued at $70,000 after acquiring an additional 646 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Federated Hermes by 112.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock valued at $109,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FHI shares. StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reduced their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. Finally, Evercore ISI set a $44.00 price target on Federated Hermes in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Hold” and an average price target of $42.17.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $38.84 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The business’s 50 day moving average price is $38.91 and its 200-day moving average price is $38.79. The firm has a market capitalization of $3.18 billion, a PE ratio of 12.18, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92.

Federated Hermes (NYSE:FHI) last issued 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%. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio is presently 38.87%.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the 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 sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by corporate insiders.

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.