Federated Hermes (NYSE:FHI) Rating Lowered to “Buy” at Wall Street Zen

Federated Hermes (NYSE:FHI) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other research analysts have also recently commented on FHI. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada boosted their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research report on Tuesday, November 4th. Finally, Evercore ISI boosted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

Federated Hermes Stock Performance

Shares of FHI stock opened at $50.17 on Friday. Federated Hermes has a 52-week low of $35.05 and a 52-week high of $54.42. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.89 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.54 and a beta of 0.83. The business has a 50-day simple moving average of $50.33 and a 200-day simple moving average of $48.58.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. During the same period in the prior year, the company posted $1.06 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Federated Hermes will post 4.04 EPS for the current year.

Insider Transactions at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 1,249 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the sale, the insider owned 57,500 shares of the company’s stock, valued at $2,751,375. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 15,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the sale, the chief executive officer directly owned 157,039 shares in the company, valued at approximately $7,622,673.06. The trade was a 8.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,709 shares of company stock valued at $1,049,146 in the last ninety days. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MAI Capital Management raised its stake in Federated Hermes by 86.7% during the third quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after buying an additional 221 shares in the last quarter. Diversified Trust Co raised its position in shares of Federated Hermes by 2.6% during the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock valued at $400,000 after acquiring an additional 229 shares in the last quarter. GAMMA Investing LLC lifted its stake in Federated Hermes by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock worth $131,000 after purchasing an additional 241 shares during the last quarter. CW Advisors LLC boosted its holdings in Federated Hermes by 3.8% in the first quarter. CW Advisors LLC now owns 7,168 shares of the company’s stock worth $292,000 after purchasing an additional 261 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Federated Hermes by 0.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,934 shares of the company’s stock worth $3,580,000 after purchasing an additional 272 shares during the period. 75.94% of the stock is owned by hedge funds and other 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.