Federated Hermes (NYSE:FHI) Reaches New 1-Year High – Here’s Why

Federated Hermes, Inc. (NYSE:FHI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $42.27 and last traded at $42.27, with a volume of 1542 shares traded. The stock had previously closed at $40.44.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FHI. Evercore ISI increased their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, UBS Group raised their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Federated Hermes Stock Down 0.9 %

The business’s 50 day moving average price is $36.87 and its 200 day moving average price is $34.47. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Federated Hermes, Inc. will post 3.83 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.99%. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Activity at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $7,138,766.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Schneider Downs Wealth Management Advisors LP boosted its position in shares of Federated Hermes by 31.4% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 90,914 shares of the company’s stock valued at $3,343,000 after acquiring an additional 21,732 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Federated Hermes by 387.6% during the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock valued at $5,867,000 after acquiring an additional 126,840 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Federated Hermes during the 3rd quarter valued at about $214,000. State of New Jersey Common Pension Fund D boosted its position in shares of Federated Hermes by 1.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,530 shares of the company’s stock valued at $2,152,000 after acquiring an additional 967 shares during the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Federated Hermes by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock valued at $374,000 after acquiring an additional 870 shares during the last quarter. 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.