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

Federated Hermes (NYSE:FHI) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

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

Federated Hermes Price Performance

NYSE:FHI opened at $42.61 on Tuesday. The firm’s fifty day moving average is $38.82 and its two-hundred day moving average is $35.26. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.18 and a beta of 1.15. Federated Hermes has a one year low of $31.08 and a one year high of $43.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same period last year, the company earned $0.86 earnings per share. Federated Hermes’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts expect that Federated Hermes will post 3.88 EPS for the current year.

Insider Buying and Selling at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now owns 53,837 shares in the company, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock valued at $1,185,871 over the last quarter. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after purchasing an additional 275 shares during the last quarter. UMB Bank n.a. raised its position in shares of Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Federated Hermes by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after acquiring an additional 340 shares during the period. GAMMA Investing LLC increased its stake in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Federated Hermes by 23.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds 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.