Federated Hermes (NYSE:FHI) Sets New 1-Year High – Still a Buy?

by · The Cerbat Gem

Federated Hermes, Inc. (NYSE:FHI – Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $42.27 and last traded at $42.27, with a volume of 1542 shares trading hands. The stock had previously closed at $40.44.

Analyst Ratings Changes

A number of research firms recently weighed in on FHI. JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI lifted their target price on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group increased their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Read Our Latest Research Report on Federated Hermes

Federated Hermes Trading Up 3.0 %

The business’s fifty day simple moving average is $36.71 and its two-hundred day simple moving average is $34.42. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.17 and a beta of 1.15.

Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities analysts predict that Federated Hermes, Inc. will post 3.83 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.98%. Federated Hermes’s payout ratio is 39.87%.

Insiders Place Their Bets

In other news, VP Dolores D. Dudiak sold 5,000 shares of the 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 transaction, the vice president now directly owns 77,288 shares in the company, valued at $3,083,018.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC grew its position in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the last quarter. Mather Group LLC. bought a new position in shares of Federated Hermes during the second quarter worth about $47,000. UMB Bank n.a. lifted its position in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the last quarter. Finally, CWM LLC grew its stake in Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

(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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