Federated Hermes (NYSE:FHI) Announces Earnings Results

Federated Hermes (NYSE:FHIGet Free Report) released its earnings results on Thursday. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.12, Briefing.com reports. The business had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $396.97 million. Federated Hermes had a net margin of 17.17% and a return on equity of 27.01%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share.

Federated Hermes Stock Performance

NYSE FHI traded up $0.59 on Friday, reaching $34.93. 573,379 shares of the stock were exchanged, compared to its average volume of 657,116. The firm has a market capitalization of $3.01 billion, a PE ratio of 11.46, a PEG ratio of 0.65 and a beta of 1.11. The company has a current ratio of 2.78, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $33.21 and its two-hundred day simple moving average is $33.56. Federated Hermes has a one year low of $30.23 and a one year high of $45.55.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in Federated Hermes by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 23,096 shares of the company’s stock valued at $782,000 after buying an additional 569 shares during the period. Comerica Bank raised its stake in shares of Federated Hermes by 516.7% during the third quarter. Comerica Bank now owns 36,842 shares of the company’s stock worth $1,248,000 after purchasing an additional 30,868 shares during the last quarter. Creative Planning raised its stake in shares of Federated Hermes by 10.7% during the third quarter. Creative Planning now owns 27,114 shares of the company’s stock worth $918,000 after purchasing an additional 2,623 shares during the last quarter. Legal & General Group Plc raised its position in Federated Hermes by 5.2% in the third quarter. Legal & General Group Plc now owns 123,052 shares of the company’s stock worth $4,168,000 after acquiring an additional 6,131 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Federated Hermes by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 142,334 shares of the company’s stock worth $4,821,000 after acquiring an additional 5,860 shares in the last quarter. Hedge funds and other institutional investors own 76.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. TD Cowen initiated coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, UBS Group initiated coverage on shares of Federated Hermes in a research report on Friday, January 5th. They set a “neutral” rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.29.

Check Out Our Latest Report on FHI

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.

See Also

Earnings History for Federated Hermes (NYSE:FHI)

Receive News & Ratings for Federated Hermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Federated Hermes and related companies with MarketBeat.com's FREE daily email newsletter.