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

Federated Hermes (NYSE:FHI) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

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

Federated Hermes Price Performance

Federated Hermes stock opened at $40.14 on Wednesday. The business has a 50 day simple moving average of $36.33 and a 200-day simple moving average of $34.32. Federated Hermes has a 12 month low of $31.08 and a 12 month high of $40.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock has a market capitalization of $3.32 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter last year, the business earned $0.86 EPS. The business’s revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Federated Hermes will post 3.68 earnings per share for the current year.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP John B. Fisher sold 79,830 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in Federated Hermes by 267.9% in the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after purchasing an additional 19,530 shares in the last quarter. Tidal Investments LLC acquired a new stake in Federated Hermes during the first quarter worth approximately $1,419,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federated Hermes in the 1st quarter worth approximately $1,542,000. Ontario Teachers Pension Plan Board grew its stake in Federated Hermes by 103.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock worth $2,121,000 after acquiring an additional 29,793 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings 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 valued at $37,555,000 after acquiring an additional 324,958 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.