Federated Hermes (NYSE:FHI) Announces Earnings Results

Federated Hermes (NYSE:FHI) issued its earnings results on Thursday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08, Zacks reports. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%.

Federated Hermes Stock Performance

Shares of FHI stock opened at $39.77 on Friday. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.25 billion, a P/E ratio of 12.79, a PEG ratio of 1.46 and a beta of 1.16. The firm has a fifty day moving average price of $40.75 and a 200 day moving average price of $37.90.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total value of $184,306.52. Following the completion of the sale, the chief executive officer now directly owns 184,642 shares of the company’s stock, valued at $7,640,485.96. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the transaction, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,280 shares of company stock valued at $986,421 in the last ninety days. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FHI. JPMorgan Chase & Co. restated a “neutral” rating and issued a $42.00 price objective (down from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. Evercore ISI increased their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $42.17.

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.