Federated Hermes (NYSE:FHI) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Federated Hermes (NYSE:FHIGet Rating) from a hold rating to a buy rating in a report published on Friday.

A number of other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Federated Hermes from $42.00 to $37.00 in a research note on Thursday, April 7th. Citigroup downgraded shares of Federated Hermes from a neutral rating to a sell rating and set a $28.50 target price for the company. in a research note on Tuesday, April 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Federated Hermes from $34.00 to $31.00 in a research note on Tuesday, January 25th.

Shares of NYSE FHI opened at $28.48 on Friday. Federated Hermes has a twelve month low of $27.88 and a twelve month high of $39.82. The firm has a fifty day simple moving average of $32.38 and a 200 day simple moving average of $34.11. The company has a market capitalization of $2.62 billion, a PE ratio of 10.91 and a beta of 1.12. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.20.

Federated Hermes (NYSE:FHIGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Federated Hermes had a return on equity of 24.21% and a net margin of 20.78%. The firm had revenue of $324.76 million for the quarter, compared to the consensus estimate of $338.07 million. During the same period in the prior year, the business earned $0.75 EPS. Federated Hermes’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities analysts expect that Federated Hermes will post 3.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.79%. The ex-dividend date is Thursday, May 5th. Federated Hermes’s dividend payout ratio (DPR) is currently 41.38%.

In other news, Vice Chairman Gordon J. Ceresino sold 32,428 shares of the business’s stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $33.65, for a total transaction of $1,091,202.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas R. Donahue sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $34.18, for a total transaction of $1,025,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,451 shares of company stock valued at $2,954,168. 5.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its holdings in Federated Hermes by 3.7% during the third quarter. Mutual of America Capital Management LLC now owns 85,976 shares of the company’s stock worth $2,794,000 after purchasing an additional 3,067 shares during the last quarter. FIL Ltd lifted its stake in shares of Federated Hermes by 2.6% during the 3rd quarter. FIL Ltd now owns 965,805 shares of the company’s stock valued at $31,388,000 after buying an additional 24,245 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Federated Hermes by 4.2% during the 4th quarter. New York State Teachers Retirement System now owns 146,554 shares of the company’s stock worth $5,507,000 after acquiring an additional 5,863 shares during the period. American International Group Inc. increased its holdings in Federated Hermes by 0.3% during the 3rd quarter. American International Group Inc. now owns 218,752 shares of the company’s stock worth $7,109,000 after acquiring an additional 670 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Federated Hermes by 125.2% during the 3rd quarter. Janus Henderson Group PLC now owns 21,079 shares of the company’s stock worth $685,000 after acquiring an additional 11,718 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.

Federated Hermes Company Profile (Get Rating)

Federated Hermes, Inc is a publicly owned asset management holding company. 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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