Federated Hermes (NYSE:FHI) Stock Rating Upgraded by StockNews.com

Federated Hermes (NYSE:FHI) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Other research analysts have also issued reports about the company. UBS Group upped their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $46.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Federated Hermes Trading Up 1.5 %

FHI traded up $0.58 on Wednesday, reaching $40.29. 1,506,259 shares of the company traded hands, compared to its average volume of 720,394. The firm has a fifty day simple moving average of $36.21 and a two-hundred day simple moving average of $34.28. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes has a one year low of $31.08 and a one year high of $40.36. The company has a market cap of $3.33 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. As a group, equities research analysts expect that Federated Hermes will post 3.68 earnings per share for the current year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’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 value of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the transaction, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,902 shares of company stock valued at $2,813,119. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after purchasing an additional 19,530 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Federated Hermes in the first quarter worth $1,419,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Federated Hermes in the 1st quarter valued at about $1,542,000. Ontario Teachers Pension Plan Board boosted its position in Federated Hermes by 103.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock worth $2,121,000 after acquiring an additional 29,793 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after buying an additional 324,958 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

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.