Federated Hermes (NYSE:FHI) Downgraded to “Hold” at StockNews.com

Federated Hermes (NYSE:FHI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Other analysts have also recently issued reports about the stock. Evercore ISI reduced their price objective on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. UBS Group lowered 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. TD Cowen decreased their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.83.

Federated Hermes Trading Down 4.3 %

Shares of FHI traded down $1.46 during trading hours on Monday, reaching $32.49. 1,440,087 shares of the company traded hands, compared to its average volume of 785,700. The company’s fifty day moving average price is $33.19 and its two-hundred day moving average price is $34.28. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. The company has a quick ratio of 2.45, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. 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 earnings results 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 for 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 was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Equities research analysts predict that Federated Hermes will post 3.62 earnings per share for the current fiscal year.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 82,263 shares of company stock worth $2,690,030 in the last three months. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FHI. Assenagon Asset Management S.A. bought a new position in shares of Federated Hermes in the first quarter worth $29,518,000. Wellington Management Group LLP grew its stake in shares of Federated Hermes by 59.1% in the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after purchasing an additional 673,496 shares in the last quarter. Norges Bank bought a new position in shares of Federated Hermes in the fourth quarter worth $12,474,000. Goldman Sachs Group Inc. grew its stake in shares of Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after purchasing an additional 335,737 shares in the last quarter. Finally, Interval Partners LP grew its stake in shares of Federated Hermes by 60.4% in the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,370 shares in 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.