Federated Hermes (NYSE:FHI) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Federated Hermes (NYSE:FHI) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

A number of other analysts have also recently commented on FHI. Royal Bank of Canada lifted their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group increased their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Stock Performance

FHI opened at $42.86 on Tuesday. The company has a market cap of $3.51 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.15. 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 $38.97 and its 200-day moving average price is $35.33. Federated Hermes has a 52-week low of $31.08 and a 52-week high of $43.06.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. 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 business posted $0.86 EPS. Federated Hermes’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Federated Hermes will post 3.88 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.89%. Federated Hermes’s payout ratio is 39.87%.

Insider Activity at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 in the company, valued at approximately $3,083,018.32. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock worth $1,185,871 in the last three months. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently made changes to their positions in FHI. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% in the second 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. LSV Asset Management acquired a new position in shares of Federated Hermes during the 2nd quarter worth approximately $11,913,000. Assenagon Asset Management S.A. grew its position in shares of Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. AXA S.A. purchased a new stake in shares of Federated Hermes in the second quarter valued at approximately $6,200,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after purchasing an additional 152,926 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.