Federated Hermes (NYSE:FHI) Sets New 52-Week High – Time to Buy?

Federated Hermes, Inc. (NYSE:FHI) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $58.09 and last traded at $57.8820, with a volume of 145000 shares trading hands. The stock had previously closed at $56.71.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FHI shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. TD Cowen reiterated a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Finally, Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

Federated Hermes Trading Up 1.9%

The company has a quick ratio of 2.30, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.39 billion, a P/E ratio of 11.24, a PEG ratio of 1.96 and a beta of 0.73. The firm’s 50-day simple moving average is $55.21 and its 200 day simple moving average is $52.70.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.19. The company had revenue of $482.83 million during the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, February 6th. Federated Hermes’s dividend payout ratio (DPR) is presently 26.46%.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $56.23, for a total value of $4,070,602.16. Following the transaction, the vice president owned 263,987 shares of the company’s stock, valued at approximately $14,843,989.01. This represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Several large investors have recently modified their holdings of FHI. Rockefeller Capital Management L.P. lifted its holdings in shares of Federated Hermes by 24.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Federated Hermes by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 95,647 shares of the company’s stock valued at $4,980,000 after purchasing an additional 13,686 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after purchasing an additional 594 shares in the last quarter. DGS Capital Management LLC raised its holdings in Federated Hermes by 24.3% during the 4th quarter. DGS Capital Management LLC now owns 64,207 shares of the company’s stock worth $3,343,000 after buying an additional 12,562 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Federated Hermes during the 4th quarter worth about $212,000. 75.94% of the stock is owned by institutional investors.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.