Federated Hermes (NYSE:FHI) Sets New 1-Year High – Here’s What Happened

Federated Hermes, Inc. (NYSE:FHI) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $57.94 and last traded at $57.7750, with a volume of 235319 shares. The stock had previously closed at $56.33.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. TD Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $55.00 target price (up from $54.00) on shares of Federated Hermes in a research note on Tuesday, February 3rd. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Federated Hermes Stock Down 1.9%

The company has a quick ratio of 2.30, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $55.07 and a 200-day simple moving average of $52.64. The company has a market cap of $4.27 billion, a PE ratio of 10.96, a P/E/G ratio of 2.01 and a beta of 0.73.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. The business had revenue of $482.83 million during the quarter, compared to analysts’ expectations of $468.45 million. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 earnings per share. Equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, February 6th. Federated Hermes’s payout ratio is presently 26.46%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the transaction, the vice president directly owned 263,987 shares of the company’s stock, valued at $14,843,989.01. This trade represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Federated Hermes by 1.7% in the 4th quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock worth $158,097,000 after buying an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Federated Hermes by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock valued at $157,879,000 after acquiring an additional 12,348 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after acquiring an additional 670,643 shares during the last quarter. LSV Asset Management lifted its position in shares of Federated Hermes by 20.4% in the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after acquiring an additional 489,275 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP lifted its position in shares of Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after acquiring an additional 2,577,442 shares in 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 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.