Federated Hermes (NYSE:FHI) Upgraded at StockNews.com

StockNews.com upgraded shares of Federated Hermes (NYSE:FHI) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.

Other analysts also recently issued reports about the company. UBS Group lifted their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI boosted their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Federated Hermes Stock Up 1.0 %

Shares of NYSE FHI opened at $40.54 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 13.04, a PEG ratio of 1.16 and a beta of 1.15. The business’s fifty day simple moving average is $36.46 and its 200-day simple moving average is $34.36. Federated Hermes has a 12-month low of $31.08 and a 12-month high of $40.65. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. As a group, equities analysts predict that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of FHI. SG Americas Securities LLC increased its position in Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after purchasing an additional 19,530 shares during the period. Tidal Investments LLC purchased a new stake in shares of Federated Hermes during the 1st quarter worth $1,419,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Federated Hermes in the 1st quarter valued at about $1,542,000. Ontario Teachers Pension Plan Board lifted its stake in shares of Federated Hermes by 103.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock valued at $2,121,000 after purchasing an additional 29,793 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after buying an additional 324,958 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.