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

Federated Hermes (NYSE:FHI) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other equities research analysts also recently issued reports on FHI. Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Evercore ISI lifted their price target on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 11th. UBS Group boosted their target price 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. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes Stock Down 2.1 %

FHI opened at $41.28 on Monday. The firm has a market cap of $3.38 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The business has a 50 day moving average price of $38.23 and a 200 day moving average price of $35.00. Federated Hermes has a twelve month low of $31.08 and a twelve month high of $42.56.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) 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 period in the prior year, the firm earned $0.86 EPS. Federated Hermes’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that Federated Hermes will post 3.88 EPS for the current year.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Federated Hermes by 92.2% during the 1st quarter. SG Americas Securities LLC now owns 7,290 shares of the company’s stock worth $263,000 after purchasing an additional 3,497 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Federated Hermes by 42.3% in the first quarter. Russell Investments Group Ltd. now owns 6,876 shares of the company’s stock valued at $248,000 after acquiring an additional 2,043 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Federated Hermes by 78.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,814 shares of the company’s stock worth $2,522,000 after acquiring an additional 30,621 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Federated Hermes by 66.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 28,151 shares of the company’s stock valued at $1,016,000 after purchasing an additional 11,226 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Federated Hermes by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after purchasing an additional 45,214 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Company Profile

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.