Federated Hermes’ (FHI) Buy (B) Rating Reaffirmed at Weiss Ratings

Federated Hermes (NYSE:FHI)‘s stock had its “buy (b)” rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other analysts also recently issued reports about the stock. Evercore ISI boosted their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Royal Bank Of Canada boosted their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Finally, Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $48.33.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $52.41 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The company has a market cap of $4.06 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.70 and a beta of 0.80. The firm’s fifty day moving average is $52.43 and its two-hundred day moving average is $45.84. Federated Hermes has a 52-week low of $35.05 and a 52-week high of $54.42.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same period in the previous year, the firm posted $0.96 EPS. Federated Hermes’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Federated Hermes will post 4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after buying an additional 265,590 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Federated Hermes by 249.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares during the period. AQR Capital Management LLC boosted its position in Federated Hermes by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after buying an additional 498,202 shares during the period. Invesco Ltd. boosted its position in Federated Hermes by 6.2% in the 1st quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock valued at $96,533,000 after buying an additional 137,248 shares during the period. Finally, LSV Asset Management boosted its position in Federated Hermes by 77.6% in the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company’s stock valued at $87,139,000 after buying an additional 859,053 shares during the period. 75.94% of the stock is currently owned by institutional investors.

About Federated Hermes

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.