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

StockNews.com downgraded shares of Federated Hermes (NYSE:FHI) from a buy rating to a hold rating in a report released on Wednesday morning.

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

Federated Hermes Price Performance

Federated Hermes stock opened at $33.65 on Wednesday. The firm has a 50-day moving average price of $33.75 and a 200-day moving average price of $34.01. The firm has a market capitalization of $2.83 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.10.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. As a group, equities research analysts forecast that Federated Hermes will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.68%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction on 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 sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,896 shares of company stock valued at $2,644,911. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Federated Hermes in the 4th quarter worth $1,483,000. GSA Capital Partners LLP lifted its stake in shares of Federated Hermes by 123.8% during the fourth quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock worth $2,364,000 after buying an additional 38,630 shares during the period. Norges Bank acquired a new stake in shares of Federated Hermes during the fourth quarter worth $12,474,000. SG Americas Securities LLC lifted its stake in shares of Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after buying an additional 19,530 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of Federated Hermes during the first quarter worth $1,419,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

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.