Federated Hermes (NYSE:FHI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities research analysts have also weighed in on FHI. JPMorgan Chase & Co. reduced their price objective on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Evercore reaffirmed an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a research report on Monday, June 8th. TD Cowen reduced their target price on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price target on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.20.

Federated Hermes Trading Up 6.4%

Shares of NYSE:FHI opened at $63.82 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 2.59. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.62 and a beta of 0.65. Federated Hermes has a 1-year low of $46.66 and a 1-year high of $63.99. The company has a 50 day moving average price of $57.94 and a 200 day moving average price of $56.37.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.19. The company had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a return on equity of 24.27% and a net margin of 21.30%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, research analysts anticipate that Federated Hermes will post 5.24 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. Federated Hermes’s dividend payout ratio (DPR) is currently 28.25%.

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total transaction of $513,193.00. Following the sale, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at $8,674,165.84. The trade was a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president owned 74,921 shares of the company’s stock, valued at $4,060,718.20. The trade was a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Federated Hermes during the 4th quarter worth about $25,000. Root Financial Partners LLC increased its holdings in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after purchasing an additional 594 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.