Federated Hermes (NYSE:FHI) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Federated Hermes (NYSE:FHI) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Other equities analysts have also recently issued research reports about the company. Evercore ISI lifted their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group boosted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Trading Down 0.0 %

Shares of FHI stock opened at $42.84 on Tuesday. The stock has a market capitalization of $3.50 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. Federated Hermes has a fifty-two week low of $31.08 and a fifty-two week high of $43.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The company has a 50 day moving average price of $39.24 and a 200 day moving average price of $35.43.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts predict that Federated Hermes will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 2.89%. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Activity at Federated Hermes

In related news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the transaction, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock valued at $1,185,871 over the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in shares of Federated Hermes by 3.1% in the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock valued at $336,000 after buying an additional 275 shares during the last quarter. UMB Bank n.a. raised its stake in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares during the period. GAMMA Investing LLC grew its stake in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Federated Hermes by 23.3% during the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Company 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.