Federated Hermes (NYSE:FHI) Hits New 12-Month High at $31.86

Federated Hermes, Inc. (NYSE:FHI)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $31.86 and last traded at $31.05, with a volume of 500784 shares trading hands. The stock had previously closed at $31.55.

A number of analysts recently commented on FHI shares. Deutsche Bank Aktiengesellschaft decreased their target price on Federated Hermes from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, February 1st. Zacks Investment Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Tuesday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.50.

The stock has a market capitalization of $3.08 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 2.51 and a beta of 1.22. The company has a current ratio of 2.43, a quick ratio of 1.94 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $29.66 and a 200 day simple moving average of $27.71.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. The company had revenue of $363.92 million during the quarter, compared to analyst estimates of $349.24 million. Federated Hermes had a return on equity of 28.99% and a net margin of 21.72%. Federated Hermes’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, research analysts forecast that Federated Hermes, Inc. will post 3.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Friday, February 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, February 4th. Federated Hermes’s dividend payout ratio is presently 40.15%.

In related news, Vice Chairman Gordon J. Ceresino sold 8,782 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $30.12, for a total value of $264,513.84. Following the transaction, the insider now owns 200,615 shares in the company, valued at $6,042,523.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Gordon J. Ceresino sold 43,000 shares of the company’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $30.99, for a total value of $1,332,570.00. Over the last ninety days, insiders sold 72,575 shares of company stock valued at $2,222,607. 5.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Fortis Advisors LLC purchased a new position in Federated Hermes in the fourth quarter valued at approximately $41,000. Barclays PLC bought a new position in shares of Federated Hermes in the fourth quarter worth $47,000. Van ECK Associates Corp increased its holdings in shares of Federated Hermes by 41.3% in the third quarter. Van ECK Associates Corp now owns 1,738 shares of the company’s stock worth $37,000 after purchasing an additional 508 shares during the period. Neo Ivy Capital Management increased its holdings in shares of Federated Hermes by 13.9% in the third quarter. Neo Ivy Capital Management now owns 3,539 shares of the company’s stock worth $76,000 after purchasing an additional 432 shares during the period. Finally, US Bancorp DE bought a new position in Federated Hermes in the third quarter valued at $114,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Federated Hermes Company Profile (NYSE:FHI)

Federated Hermes, Inc is a publicly owned asset management holding company. 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.

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