Federated Hermes (NYSE:FHI) Upgraded 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 issued on Tuesday.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective 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. TD Cowen reduced their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research note on Monday, July 29th. 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. Finally, UBS Group reduced their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $37.83.

Federated Hermes Trading Up 0.1 %

NYSE:FHI opened at $33.92 on Tuesday. The company has a 50-day moving average price of $33.41 and a 200-day moving average price of $34.07. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.10. The company has a current ratio of 2.75, a quick ratio of 2.45 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 1.31 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. Equities analysts predict that Federated Hermes will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

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

Insider Buying and Selling

In related news, VP John B. Fisher sold 79,830 shares of the 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 directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the company’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 value of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares in the company, valued at approximately $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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. In the last ninety days, insiders sold 80,896 shares of company stock valued at $2,644,911. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC boosted its position in shares of Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Federated Hermes by 216.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock valued at $35,000 after acquiring an additional 712 shares during the last quarter. Signaturefd LLC boosted its position in shares of Federated Hermes by 65.7% during the 4th quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $47,000 after acquiring an additional 548 shares during the last quarter. Mather Group LLC. bought a new position in shares of Federated Hermes during the 2nd quarter valued at approximately $47,000. Finally, CWM LLC boosted its position in shares of Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

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.