Federated Hermes (NYSE:FHI) Upgraded to Buy 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 report released on Saturday.

FHI has been the topic of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research note on Tuesday, February 3rd. Argus upgraded Federated Hermes to a “hold” rating in a report on Monday, February 2nd. Finally, TD Cowen reiterated a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and an average target price of $55.00.

Federated Hermes Stock Down 0.2%

NYSE:FHI opened at $57.72 on Friday. Federated Hermes has a twelve month low of $35.05 and a twelve month high of $58.57. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67. The stock has a fifty day simple moving average of $55.43 and a 200-day simple moving average of $52.81. The company has a current ratio of 2.75, a quick ratio of 2.30 and a debt-to-equity ratio of 0.29.

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

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a dividend of $0.34 per share. 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 dividend payout ratio (DPR) is presently 26.46%.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 72,392 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total value of $4,070,602.16. Following the completion of the transaction, the vice president owned 263,987 shares of the company’s stock, valued at $14,843,989.01. The trade was a 21.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Trading of Federated Hermes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Torren Management LLC bought a new position in shares of Federated Hermes in the 4th quarter worth $25,000. MAI Capital Management boosted its position in Federated Hermes by 86.7% during the third quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after purchasing an additional 221 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Federated Hermes by 119.7% during the fourth 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 in the last quarter. Parkside Financial Bank & Trust grew its stake in Federated Hermes by 145.8% in the fourth 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 last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after purchasing an additional 594 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

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.