Federated Hermes (NYSE:FHI) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat.com reports. TD Cowen currently has $46.00 price target on the stock, up from their prior price target of $35.00.

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

Federated Hermes Stock Up 1.5 %

Shares of NYSE:FHI opened at $40.29 on Monday. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Federated Hermes has a 1 year low of $31.08 and a 1 year high of $40.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The firm’s 50-day moving average is $36.21 and its two-hundred day moving average is $34.28.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same period in the prior year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts predict that Federated Hermes will post 3.68 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

Insiders Place Their Bets

In related news, VP John B. Fisher sold 79,830 shares of Federated Hermes 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 sale, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of Federated Hermes 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 transaction, the vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,902 shares of company stock valued at $2,813,119. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of large investors have recently bought and sold shares of FHI. AQR Capital Management LLC lifted its position in 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 acquiring an additional 1,261,097 shares during the period. LSV Asset Management purchased a new position in Federated Hermes in the 2nd quarter valued at $11,913,000. Assenagon Asset Management S.A. grew its position in Federated Hermes by 39.8% in 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 buying an additional 324,958 shares during the last quarter. AXA S.A. acquired a new position in Federated Hermes in the 2nd quarter valued at $6,200,000. Finally, Interval Partners LP raised its position in Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after buying an additional 154,370 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.