Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results

Federated Hermes (NYSE:FHI) posted its earnings results on Thursday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08, Zacks reports. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded up $0.30 on Thursday, hitting $39.77. 1,394,918 shares of the company were exchanged, compared to its average volume of 651,456. Federated Hermes has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The company has a 50-day moving average price of $40.79 and a 200 day moving average price of $37.89.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,280 shares of company stock valued at $986,421. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FHI has been the topic of several research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $42.00 target price (down previously from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. Royal Bank of Canada lowered their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Evercore ISI increased their price target on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, UBS Group lifted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.17.

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.