Federated Hermes (NYSE:FHI) Shares Gap Down to $35.43

Federated Hermes, Inc. (NYSE:FHI) gapped down before the market opened on Friday . The stock had previously closed at $35.43, but opened at $34.32. Federated Hermes shares last traded at $35.13, with a volume of 48,199 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FHI shares. JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI decreased their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. TD Cowen lowered their price objective on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, UBS Group reduced their target price on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Federated Hermes Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. The company has a 50-day moving average price of $32.98 and a 200 day moving average price of $34.26. The firm has a market capitalization of $2.99 billion, a PE ratio of 10.02, a P/E/G ratio of 1.35 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same quarter last year, the firm earned $0.81 earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. Analysts forecast that Federated Hermes, Inc. will post 3.62 earnings per share for the current year.

Insider Buying and Selling at Federated Hermes

In related news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the transaction, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Paul A. Uhlman sold 975 shares of Federated Hermes stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the completion of the sale, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. Insiders have sold 2,361 shares of company stock valued at $76,360 in the last quarter. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FHI. Legato Capital Management LLC boosted its position in Federated Hermes by 4.7% during the second quarter. Legato Capital Management LLC now owns 47,695 shares of the company’s stock valued at $1,568,000 after purchasing an additional 2,137 shares in the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of Federated Hermes by 6.3% during the second quarter. Alpha Omega Wealth Management LLC now owns 116,736 shares of the company’s stock worth $3,838,000 after purchasing an additional 6,924 shares in the last quarter. Blue Trust Inc. raised its stake in Federated Hermes by 36.7% in the second quarter. Blue Trust Inc. now owns 5,232 shares of the company’s stock valued at $189,000 after buying an additional 1,405 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after acquiring an additional 324,958 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of Federated Hermes by 4.0% during the second quarter. Wedge Capital Management L L P NC now owns 28,476 shares of the company’s stock worth $936,000 after acquiring an additional 1,083 shares during the last quarter. Hedge funds and other institutional investors 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.