StockNews.com Upgrades Federated Hermes (NYSE:FHI) to Strong-Buy

Federated Hermes (NYSE:FHI) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

Other equities research analysts have also recently issued research reports about the stock. UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Evercore ISI upped their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Federated Hermes Trading Up 0.0 %

Shares of FHI stock traded up $0.01 during mid-day trading on Monday, reaching $42.19. The stock had a trading volume of 577,096 shares, compared to its average volume of 711,242. The stock’s 50-day moving average price is $38.09 and its two-hundred day moving average price is $34.94. Federated Hermes has a 52-week low of $31.08 and a 52-week high of $42.56. The firm has a market capitalization of $3.45 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the company earned $0.86 earnings per share. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts expect that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the transaction, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FHI. GAMMA Investing LLC boosted its stake in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares during the last quarter. Mather Group LLC. purchased a new position in Federated Hermes during the 2nd quarter valued at $47,000. CWM LLC boosted its holdings in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares during the period. UMB Bank n.a. boosted its holdings in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Federated Hermes during the 3rd quarter valued at $60,000. 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.