Federated Hermes (NYSE:FHI) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other analysts have also weighed in on FHI. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, August 17th. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Finally, Evercore restated an “outperform” rating and set a $65.00 target price on shares of Federated Hermes in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $59.64 on Friday. The business’s 50 day simple moving average is $61.42 and its 200-day simple moving average is $58.25. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.58 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. Federated Hermes has a 12 month low of $46.66 and a 12 month high of $67.20.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The business had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The company’s revenue was up 18.3% compared to the same quarter last year. As a group, equities analysts forecast that Federated Hermes will post 5.5 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 7th. Federated Hermes’s payout ratio is 28.25%.

Institutional Trading of Federated Hermes

Institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management boosted its stake in Federated Hermes by 20.4% in the 4th quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock worth $150,497,000 after buying an additional 489,275 shares during the last quarter. Vestcor Inc increased its stake in shares of Federated Hermes by 32.6% during the 4th quarter. Vestcor Inc now owns 432,900 shares of the company’s stock valued at $22,541,000 after acquiring an additional 106,377 shares during the last quarter. Brandywine Global Investment Management LLC increased its stake in shares of Federated Hermes by 19.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 177,533 shares of the company’s stock valued at $9,244,000 after acquiring an additional 28,854 shares during the last quarter. Morningstar Investment Management LLC lifted its holdings in shares of Federated Hermes by 82.6% during the 1st quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company’s stock worth $2,262,000 after acquiring an additional 18,047 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Federated Hermes by 11.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 589,140 shares of the company’s stock worth $30,677,000 after acquiring an additional 61,772 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Company Profile

Federated Hermes, Inc (NYSE:FHI) is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.

The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.