Federated Hermes (NYSE:FHI) Upgraded by StockNews.com to Strong-Buy Rating

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

FHI has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada upped their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday. Evercore ISI upped their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $46.00 in a report on Monday. Finally, UBS Group upped their price target 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. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Federated Hermes Trading Up 1.5 %

NYSE FHI opened at $40.29 on Wednesday. The company’s fifty day simple moving average is $36.21 and its 200-day simple moving average is $34.28. Federated Hermes has a 52 week low of $31.08 and a 52 week high of $40.36. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.33 billion, a P/E ratio of 11.45, a PEG ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts predict that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.08%. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Transactions at Federated Hermes

In other news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the transaction, the vice president now owns 77,288 shares in the company, 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 is accessible through the SEC website. In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction dated 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 owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction 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 $3,083,018.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,902 shares of company stock worth $2,813,119. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in Federated Hermes by 267.9% in the second 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 acquired a new stake in Federated Hermes in the 1st quarter valued at about $1,419,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes in the 1st quarter valued at about $1,542,000. Ontario Teachers Pension Plan Board lifted its holdings in Federated Hermes by 103.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock valued at $2,121,000 after acquiring an additional 29,793 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 324,958 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.