Federated Hermes (NYSE:FHI) Lifted to Buy at StockNews.com

Federated Hermes (NYSE:FHI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other analysts have also issued reports on the stock. UBS Group lowered their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI boosted their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Cowen lowered their price target on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Federated Hermes Stock Up 2.0 %

FHI opened at $36.88 on Friday. 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 has a market cap of $3.10 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.44 and a beta of 1.16. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.43. The company’s 50-day moving average price is $34.56 and its two-hundred day moving average price is $34.05.

Federated Hermes (NYSE:FHI) last released its earnings results 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 firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities analysts expect that Federated Hermes will post 3.62 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 transaction, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Federated Hermes

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its position in shares of Federated Hermes by 12.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock valued at $745,000 after buying an additional 2,300 shares in the last quarter. Algert Global LLC grew its holdings in shares of Federated Hermes by 34.2% during the 2nd quarter. Algert Global LLC now owns 349,802 shares of the company’s stock valued at $11,501,000 after purchasing an additional 89,140 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Federated Hermes by 1.1% during the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after purchasing an additional 10,552 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Federated Hermes by 111.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 33,600 shares of the company’s stock valued at $1,105,000 after purchasing an additional 17,701 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the last quarter. Hedge funds and other institutional investors 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.