Federated Hermes (NYSE:FHI) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Federated Hermes (NYSE:FHI) posted its earnings results on Thursday. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19, Zacks reports. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.During the same quarter in the previous year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year.

Federated Hermes Stock Down 0.7%

Shares of NYSE:FHI traded down $0.45 during midday trading on Thursday, reaching $59.63. The company had a trading volume of 663,799 shares, compared to its average volume of 538,824. Federated Hermes has a 1-year low of $46.66 and a 1-year high of $61.01. The stock has a market cap of $4.53 billion, a PE ratio of 11.56, a P/E/G ratio of 1.62 and a beta of 0.65. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $57.65 and its 200 day moving average price is $56.23.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FHI shares. JPMorgan Chase & Co. cut their price target on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Wall Street Zen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada boosted their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Friday, July 17th. Finally, TD Cowen lowered their target price on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.75.

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This trade represents a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Federated Hermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its position in shares of Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after acquiring an additional 401 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Federated Hermes in the 2nd quarter valued at about $56,000. EverSource Wealth Advisors LLC lifted its stake in Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock valued at $69,000 after purchasing an additional 679 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Federated Hermes in the 2nd quarter valued at about $76,000. 75.94% of the stock is owned by institutional investors.

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.