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

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

Several other brokerages have also recently issued reports on FHI. TD Cowen raised their target price on Federated Hermes from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Evercore ISI boosted their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Cowen reiterated a “hold” rating on shares of Federated Hermes in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.67.

Federated Hermes Stock Performance

NYSE:FHI traded down $0.36 during trading hours on Friday, reaching $49.49. The company had a trading volume of 368,694 shares, compared to its average volume of 765,366. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.54 and a beta of 0.83. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $51.47 and its 200-day moving average price is $47.66. Federated Hermes has a 52 week low of $35.05 and a 52 week high of $54.42.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm had revenue of $469.45 million for the quarter, compared to analysts’ expectations of $442.67 million. During the same period in the prior year, the firm earned $1.06 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. On average, analysts forecast that Federated Hermes will post 4.04 EPS for the current year.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the completion of the sale, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at $7,622,673.06. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc bought a new stake in Federated Hermes during the second quarter valued at about $44,000. Farther Finance Advisors LLC boosted its stake in shares of Federated Hermes by 97.7% in the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after acquiring an additional 430 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Federated Hermes during the second quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Federated Hermes during the 2nd quarter valued at approximately $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the period. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.