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

StockNews.com cut shares of Federated Hermes (NYSE:FHI - Free Report) from a strong-buy rating to a buy rating in a report released on Thursday.

FHI has been the subject of a number of other reports. UBS Group raised 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. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, July 11th. Royal Bank of Canada upped their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Evercore ISI lifted their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, TD Cowen raised shares of Federated Hermes from a "hold" rating to a "buy" rating and upped their price target for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Federated Hermes Trading Down 0.9 %

Shares of NYSE:FHI traded down $0.38 during midday trading on Thursday, hitting $41.49. 457,842 shares of the stock were exchanged, compared to its average volume of 718,876. The business's 50-day moving average price is $36.87 and its 200 day moving average price is $34.47. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.15 and a beta of 1.15. Federated Hermes has a 12 month low of $31.08 and a 12 month high of $42.56. 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 - Get Free Report) last released 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 firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Analysts predict that Federated Hermes will post 3.83 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.99%. Federated Hermes's dividend payout ratio is presently 39.87%.

Insider Buying and Selling

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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now directly owns 77,288 shares of the company's stock, valued at $3,083,018.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes 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 transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FHI. Headlands Technologies LLC increased its stake in shares of Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company's stock worth $30,000 after purchasing an additional 711 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Federated Hermes by 49.0% during the 3rd 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. bought a new position in shares of Federated Hermes during the 2nd quarter worth $47,000. CWM LLC increased its holdings in Federated Hermes by 985.7% in the 2nd quarter. CWM LLC now owns 1,444 shares of the company's stock worth $47,000 after acquiring an additional 1,311 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Federated Hermes by 26.0% in 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. 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.