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 report released on Tuesday.

Several other equities analysts also recently weighed in on FHI. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price target (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group raised 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. Evercore ISI set a $44.00 price target on Federated Hermes in a report on Monday, February 3rd. Royal Bank of Canada reduced their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

FHI opened at $37.59 on Tuesday. The stock has a fifty day simple moving average of $38.68 and a two-hundred day simple moving average of $38.88. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.06 billion, a price-to-earnings 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.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

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

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in Federated Hermes in the fourth quarter worth about $37,000. R Squared Ltd purchased a new position in Federated Hermes in the fourth quarter worth about $43,000. Sound Income Strategies LLC purchased a new position in Federated Hermes in the fourth quarter worth about $53,000. Neo Ivy Capital Management purchased a new position in Federated Hermes in the third quarter worth about $60,000. Finally, GAMMA Investing LLC boosted its position in Federated Hermes by 60.9% in the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after purchasing an additional 646 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.