Federated Hermes (NYSE:FHI) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Federated Hermes (NYSE:FHI) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

FHI has been the topic of several other research reports. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Cowen reissued a “hold” rating on shares of Federated Hermes in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Finally, TD Cowen increased their price objective on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.00.

Federated Hermes Trading Down 0.2%

Shares of FHI opened at $52.84 on Friday. Federated Hermes has a twelve month low of $35.05 and a twelve month high of $54.48. The firm has a market capitalization of $4.10 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.54 and a beta of 0.75. 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’s fifty day simple moving average is $51.12 and its 200 day simple moving average is $50.65.

Federated Hermes (NYSE:FHI) last announced its quarterly 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. The company had revenue of $469.45 million during the quarter, compared to analyst estimates of $442.67 million. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities research analysts forecast that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 28.39%.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 4,461 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total transaction of $213,458.85. Following the sale, the chief executive officer owned 161,578 shares of the company’s stock, valued at $7,731,507.30. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 1,249 shares of the stock in a transaction 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 transaction, the insider directly owned 57,500 shares of the company’s stock, valued at approximately $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,709 shares of company stock worth $1,049,146 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Federated Hermes by 236.0% in the first quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after acquiring an additional 6,244 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Federated Hermes in the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Federated Hermes by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock worth $9,769,000 after purchasing an additional 24,960 shares in the last quarter. Parallel Advisors LLC lifted its stake in Federated Hermes by 30.6% during the second quarter. Parallel Advisors LLC now owns 10,564 shares of the company’s stock valued at $468,000 after purchasing an additional 2,477 shares during the last quarter. Finally, Gallacher Capital Management LLC boosted its holdings in Federated Hermes by 9.1% during the second quarter. Gallacher Capital Management LLC now owns 6,025 shares of the company’s stock worth $267,000 after buying an additional 502 shares in the last quarter. 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.