Federated Hermes (NYSE:FHI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Federated Hermes (NYSE:FHI) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently weighed in on FHI. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 9th. Royal Bank Of Canada upped their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. TD Cowen cut their price target on shares of Federated Hermes from $60.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.80.

Federated Hermes Stock Down 1.2%

FHI stock opened at $55.28 on Friday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.48 and a beta of 0.66. Federated Hermes has a twelve month low of $46.66 and a twelve month high of $67.20. The business has a 50 day moving average price of $59.77 and a two-hundred day moving average price of $58.33. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%. The company had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that Federated Hermes will post 5.51 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 28.25%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock valued at $34,967,000 after buying an additional 32,810 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Federated Hermes by 6.2% during the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock worth $27,546,000 after buying an additional 28,278 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Federated Hermes by 34.6% during the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock worth $19,130,000 after buying an additional 86,658 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock worth $9,240,000 after buying an additional 6,045 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Federated Hermes by 255.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company’s stock worth $8,204,000 after buying an additional 104,017 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.