Federated Hermes (NYSE:FHI) Raised to Strong-Buy at StockNews.com

by · The Cerbat Gem

Federated Hermes (NYSE:FHI – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Several other equities research analysts have also issued reports on FHI. UBS Group lifted their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI lifted their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada increased their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $46.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Get Our Latest Stock Report on FHI

Federated Hermes Stock Performance

Shares of FHI stock traded up $0.58 on Wednesday, hitting $40.29. 1,506,259 shares of the stock were exchanged, compared to its average volume of 720,394. Federated Hermes has a one year low of $31.08 and a one year high of $40.36. The firm’s 50 day moving average is $36.21 and its two-hundred day moving average is $34.28. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.45, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34.

Federated Hermes (NYSE:FHI – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. During the same period last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts expect that Federated Hermes will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,902 shares of company stock valued at $2,813,119 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares in the last quarter. LSV Asset Management purchased a new position in Federated Hermes during the 2nd quarter valued at approximately $11,913,000. Assenagon Asset Management S.A. increased its stake in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after acquiring an additional 324,958 shares during the last quarter. AXA S.A. purchased a new stake in Federated Hermes during the second quarter valued at $6,200,000. Finally, Interval Partners LP lifted its position in Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock valued at $14,804,000 after purchasing an additional 154,370 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

(Get Free Report)

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.

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