Federated Hermes (NYSE:FHI) Downgraded 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 Friday morning.

FHI has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Evercore ISI set a $44.00 target price on Federated Hermes in a research note on Monday, February 3rd. Finally, Royal Bank of Canada cut their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Stock Performance

FHI stock opened at $39.54 on Friday. The business has a 50 day moving average of $38.66 and a 200-day moving average of $39.11. The firm has a market cap of $3.21 billion, a PE ratio of 12.39, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, sell-side analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a yield of 3.14%. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds have recently bought and sold shares of FHI. Allspring Global Investments Holdings LLC bought a new position in Federated Hermes in the 4th quarter valued at $292,000. Inspire Investing LLC bought a new stake in Federated Hermes during the fourth quarter valued at $829,000. Charles Schwab Investment Management Inc. grew its position in Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after buying an additional 145,878 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock worth $916,000 after acquiring an additional 10,135 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new stake in shares of Federated Hermes in the 4th quarter valued at about $727,000. Hedge funds and other institutional investors 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.