StockNews.com Upgrades Federated Hermes (NYSE:FHI) to “Buy”

by · The Markets Daily

StockNews.com upgraded shares of Federated Hermes (NYSE:FHI – Free Report) from a hold rating to a buy rating in a report published on Friday.

FHI has been the subject of several other research reports. TD Cowen dropped their price target on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research note on Monday, July 29th. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an outperform rating in a research report on Friday. UBS Group reduced their target price on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $38.00.

Get Our Latest Stock Report on Federated Hermes

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $36.38 on Friday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 10.40, a PEG ratio of 1.44 and a beta of 1.16. The business has a 50 day simple moving average of $34.56 and a two-hundred day simple moving average of $34.04. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09.

Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. Federated Hermes’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, analysts predict that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.41%. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Activity

In other news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Federated Hermes by 30.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Federated Hermes by 49.0% during 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. Allianz Asset Management GmbH lifted its stake in Federated Hermes by 0.4% in the 4th quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock valued at $3,354,000 after buying an additional 366 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Federated Hermes by 23.4% during the 4th quarter. Parallel Advisors LLC now owns 2,187 shares of the company’s stock valued at $74,000 after buying an additional 414 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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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