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

Federated Hermes (NYSE:FHI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages have also recently commented on FHI. JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen reduced their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, UBS Group reduced their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Federated Hermes Stock Up 2.0 %

Shares of NYSE FHI traded up $0.72 during trading on Friday, hitting $36.89. The stock had a trading volume of 479,250 shares, compared to its average volume of 721,877. The firm has a fifty day moving average of $34.56 and a two-hundred day moving average of $34.06. The company has a market capitalization of $3.10 billion, a PE ratio of 10.48, a PEG ratio of 1.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.43.

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, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Federated Hermes will post 3.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction 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 in the company, valued at $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FHI. GSA Capital Partners LLP lifted its holdings in shares of Federated Hermes by 123.8% in the fourth quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock worth $2,364,000 after buying an additional 38,630 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Federated Hermes by 267.9% in the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after purchasing an additional 19,530 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Federated Hermes in the 1st quarter worth $1,419,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Federated Hermes in the 1st quarter worth about $1,542,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Federated Hermes by 103.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock worth $2,121,000 after buying an additional 29,793 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.