Federated Hermes (NYSE:FHI) Trading Up 3.7%

Federated Hermes, Inc. (NYSE:FHIGet Free Report)’s stock price rose 3.7% during trading on Tuesday . The company traded as high as $34.93 and last traded at $34.91. Approximately 808,487 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 581,833 shares. The stock had previously closed at $33.67.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FHI shares. UBS Group started coverage on Federated Hermes in a research report on Friday, January 5th. They set a “neutral” rating and a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Federated Hermes from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a research note on Wednesday, October 4th. Finally, TD Cowen began coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.29.

View Our Latest Research Report on Federated Hermes

Federated Hermes Stock Performance

The company has a quick ratio of 2.09, a current ratio of 2.78 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.98 billion, a PE ratio of 11.22, a PEG ratio of 0.66 and a beta of 1.11. The business has a 50 day simple moving average of $32.95 and a 200 day simple moving average of $33.56.

Federated Hermes (NYSE:FHIGet Free Report) last released its earnings results on Thursday, October 26th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Federated Hermes had a net margin of 17.17% and a return on equity of 27.01%. The company had revenue of $402.66 million during the quarter, compared to analysts’ expectations of $400.43 million. During the same period last year, the business earned $0.78 EPS. Federated Hermes’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts predict that Federated Hermes, Inc. will post 3.28 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 7th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.04. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.24%. Federated Hermes’s payout ratio is 36.36%.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Federated Hermes by 96.3% in the fourth quarter. Pacer Advisors Inc. now owns 19,860 shares of the company’s stock valued at $672,000 after purchasing an additional 9,741 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Federated Hermes by 12.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the company’s stock worth $288,000 after buying an additional 943 shares during the period. Raymond James & Associates raised its position in Federated Hermes by 48.2% during the 4th quarter. Raymond James & Associates now owns 34,781 shares of the company’s stock worth $1,178,000 after buying an additional 11,306 shares during the last quarter. Legato Capital Management LLC lifted its stake in Federated Hermes by 4.4% during the 4th quarter. Legato Capital Management LLC now owns 36,322 shares of the company’s stock valued at $1,230,000 after acquiring an additional 1,534 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Federated Hermes in the 4th quarter valued at $128,000. Hedge funds and other institutional investors own 76.65% of the company’s stock.

Federated Hermes Company Profile

(Get Free Report)

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.

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