Federated Hermes (NYSE:FHI) Sets New 1-Year High – Time to Buy?

Federated Hermes, Inc. (NYSE:FHI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $57.71 and last traded at $57.39, with a volume of 52764 shares traded. The stock had previously closed at $56.55.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FHI. Argus raised Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. TD Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.00.

Federated Hermes Stock Performance

The stock’s 50-day moving average price is $54.40 and its 200-day moving average price is $52.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 2.75. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.99 and a beta of 0.73.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The business had revenue of $482.83 million for the quarter, compared to analyst estimates of $468.45 million. During the same quarter in the previous year, the company earned $1.04 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. Federated Hermes’s dividend payout ratio is 26.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. MAI Capital Management boosted its position in shares of Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after buying an additional 221 shares in the last quarter. Torren Management LLC acquired a new position in Federated Hermes during the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC raised its position in Federated Hermes by 119.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock worth $38,000 after acquiring an additional 401 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Federated Hermes by 97.7% in the third quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.