Federated Hermes (NYSE:FHI) Raised to Strong-Buy at Wall Street Zen

Federated Hermes (NYSE:FHI) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

FHI has been the subject of several other reports. Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. TD Cowen increased their price target on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. raised their price objective on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.00.

Federated Hermes Price Performance

FHI stock opened at $52.84 on Friday. The firm has a market cap of $4.10 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.54 and a beta of 0.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.58 and a current ratio of 3.13. Federated Hermes has a 1 year low of $35.05 and a 1 year high of $54.48. The stock has a 50-day simple moving average of $51.12 and a 200-day simple moving average of $50.70.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The firm had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. During the same period in the previous year, the company posted $1.06 EPS. Federated Hermes’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts predict that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Federated Hermes

In other news, insider Richard A. Novak sold 1,249 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the sale, the insider directly owned 57,500 shares in the company, valued at approximately $2,751,375. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 4,461 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $213,458.85. Following the transaction, the chief executive officer owned 161,578 shares in the company, valued at $7,731,507.30. This trade represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,709 shares of company stock worth $1,049,146 over the last quarter. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently modified their holdings of FHI. MAI Capital Management boosted its holdings in shares of Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after buying an additional 221 shares during the period. AdvisorNet Financial Inc bought a new position in Federated Hermes in the second quarter worth about $44,000. Farther Finance Advisors LLC boosted its stake in Federated Hermes by 97.7% in the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after acquiring an additional 430 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Federated Hermes during the second quarter valued at approximately $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Federated Hermes during the 2nd quarter worth approximately $56,000. 75.94% of the stock is owned by institutional investors and hedge funds.

About Federated Hermes

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.