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 released on Monday morning.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Evercore ISI lifted their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group increased their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Price Performance

Shares of FHI opened at $41.41 on Monday. The company has a market cap of $3.39 billion, a P/E ratio of 13.32, a PEG ratio of 1.17 and a beta of 1.15. Federated Hermes has a fifty-two week low of $31.08 and a fifty-two week high of $42.56. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $38.38 and its 200 day moving average price is $35.04.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same quarter in the prior year, the company earned $0.86 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the sale, the vice president now owns 310,767 shares of the company’s stock, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is owned by company insiders.

Institutional Trading of Federated Hermes

A number of institutional investors have recently added to or reduced their stakes in FHI. Vanguard Group Inc. lifted its position in shares of Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after acquiring an additional 45,214 shares during the period. FMR LLC raised its stake in shares of Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after buying an additional 137,245 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Federated Hermes by 88.3% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in Federated Hermes by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after acquiring an additional 92,643 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.