Federated Hermes (NYSE:FHI) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a report released on Tuesday.

A number of other equities research analysts have also commented on the stock. Evercore ISI dropped their price objective on shares of Federated Hermes from $39.00 to $37.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a report on Thursday, July 11th. UBS Group reduced their price objective on Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen dropped their target price on Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $37.83.

Federated Hermes Stock Up 0.0 %

NYSE:FHI opened at $33.88 on Tuesday. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $37.10. The stock has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $34.06. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 1.31 and a beta of 1.17. The company has a current ratio of 2.75, a quick ratio of 2.45 and a debt-to-equity ratio of 0.34.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. As a group, equities analysts expect that Federated Hermes will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is currently 35.23%.

Insider Activity at Federated Hermes

In other Federated Hermes 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 owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,896 shares of company stock valued at $2,644,911. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

A number of hedge funds have recently made changes to their positions in FHI. Algert Global LLC raised its stake in Federated Hermes by 34.2% in the 2nd quarter. Algert Global LLC now owns 349,802 shares of the company’s stock valued at $11,501,000 after acquiring an additional 89,140 shares during the period. Millennium Management LLC raised its position in shares of Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after purchasing an additional 10,552 shares during the period. Dark Forest Capital Management LP raised its position in shares of Federated Hermes by 111.3% in the second quarter. Dark Forest Capital Management LP now owns 33,600 shares of the company’s stock valued at $1,105,000 after purchasing an additional 17,701 shares during the period. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after buying an additional 1,261,097 shares during the last quarter. Finally, AXA S.A. bought a new stake in shares of Federated Hermes during the 2nd quarter worth about $6,200,000. 75.94% of the stock is owned by institutional investors and hedge funds.

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.