Federated Hermes (NYSE:FHI) Sets New 52-Week High – Here’s What Happened

Federated Hermes, Inc. (NYSE:FHI)’s share price hit a new 52-week high on Thursday . The stock traded as high as $54.68 and last traded at $54.2940, with a volume of 902757 shares trading hands. The stock had previously closed at $53.34.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FHI shares. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. TD Cowen restated a “hold” rating on shares of Federated Hermes in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price target on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.20.

Federated Hermes Price Performance

The stock has a fifty day moving average of $51.88 and a two-hundred day moving average of $51.21. The company has a current ratio of 3.13, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.57 and a beta of 0.75.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The company had revenue of $469.45 million for the quarter, compared to analysts’ expectations of $442.67 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 28.39%.

Insiders Place Their Bets

In related news, insider Richard A. Novak sold 1,249 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the completion of the transaction, the insider owned 57,500 shares in the company, valued at $2,751,375. The trade was a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 15,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.54, for a total value of $728,100.00. Following the transaction, the chief executive officer directly owned 157,039 shares in the company, valued at approximately $7,622,673.06. This represents a 8.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,709 shares of company stock valued at $1,049,146. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in FHI. Schneider Downs Wealth Management Advisors LP boosted its holdings in Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after acquiring an additional 2,577,442 shares during the last quarter. LSV Asset Management lifted its position in Federated Hermes by 77.6% during the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company’s stock valued at $87,139,000 after purchasing an additional 859,053 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Federated Hermes by 2,410.2% in the 3rd quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock valued at $40,479,000 after purchasing an additional 748,439 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after purchasing an additional 670,643 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Federated Hermes by 2,427.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after buying an additional 506,500 shares during the period. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.