Federated Hermes (NYSE:FHI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a report issued on Tuesday.

Several other equities research analysts also recently issued reports on the stock. TD Cowen cut their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research report on Monday, July 29th. UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Evercore ISI dropped their price target on shares of Federated Hermes from $39.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of Moderate Buy and a consensus price target of $37.83.

Federated Hermes Trading Up 1.4 %

Shares of FHI stock opened at $34.33 on Tuesday. The firm has a 50 day moving average price of $33.53 and a two-hundred day moving average price of $34.06. The company has a quick ratio of 2.45, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.89 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.10.

Federated Hermes (NYSE:FHI) last issued 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. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. As a group, analysts predict that Federated Hermes will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.31 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, August 8th. Federated Hermes’s payout ratio is currently 35.23%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. Insiders sold a total of 80,896 shares of company stock worth $2,644,911 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC grew its stake in shares of Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Federated Hermes by 216.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 712 shares during the last quarter. Signaturefd LLC grew its stake in shares of Federated Hermes by 65.7% in the fourth quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after purchasing an additional 548 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Federated Hermes in the second quarter worth $47,000. Finally, CWM LLC grew its stake in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares during the last quarter. 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.