Federated Hermes (NYSE:FHI) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Federated Hermes (NYSE:FHI) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Other analysts have also recently issued reports about the company. Evercore ISI set a $44.00 price objective on Federated Hermes in a report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Finally, UBS Group increased their price target on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Stock Down 0.2 %

Shares of FHI opened at $37.59 on Tuesday. The business’s 50 day moving average is $38.68 and its 200 day moving average is $38.88. The company has a market capitalization of $3.06 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. 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 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Research analysts expect that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Federated Hermes during the 4th quarter worth $5,817,000. ABLE Financial Group LLC grew its position in shares of Federated Hermes by 19.3% during the 4th quarter. ABLE Financial Group LLC now owns 37,164 shares of the company’s stock worth $1,528,000 after buying an additional 6,020 shares in the last quarter. CSS LLC IL bought a new position in shares of Federated Hermes during the 4th quarter worth $641,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Federated Hermes by 13.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,653 shares of the company’s stock worth $8,824,000 after buying an additional 24,964 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in shares of Federated Hermes by 14.6% during the 4th quarter. Voloridge Investment Management LLC now owns 365,084 shares of the company’s stock worth $15,009,000 after buying an additional 46,627 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

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.