Federated Hermes (NYSE:FHI) Cut to Hold at StockNews.com

StockNews.com cut shares of Federated Hermes (NYSE:FHI) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Other analysts have also issued reports about the stock. TD Cowen cut their price target on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Finally, UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $37.67.

Federated Hermes Trading Down 2.4 %

NYSE FHI opened at $33.67 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $33.75 and its two-hundred day simple moving average is $34.02. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.10. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.34 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Research analysts forecast that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a $0.31 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a yield of 3.68%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is 35.23%.

Insider Buying and Selling at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,896 shares of company stock valued at $2,644,911. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHI. International Assets Investment Management LLC bought a new stake in shares of Federated Hermes during the 4th quarter valued at $679,000. National Bank of Canada FI boosted its stake in Federated Hermes by 29.1% during the fourth quarter. National Bank of Canada FI now owns 14,030 shares of the company’s stock worth $474,000 after acquiring an additional 3,165 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 479,008 shares of the company’s stock worth $16,219,000 after acquiring an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Federated Hermes by 111.4% in the fourth quarter. BNP Paribas Financial Markets now owns 21,628 shares of the company’s stock worth $732,000 after purchasing an additional 11,396 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Federated Hermes by 45.8% during the fourth quarter. Jump Financial LLC now owns 57,100 shares of the company’s stock valued at $1,933,000 after purchasing an additional 17,926 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Company Profile

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.