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

Federated Hermes (NYSE:FHI) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research firms also recently weighed in on FHI. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group upped their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Evercore ISI set a $44.00 price target on shares of Federated Hermes in a research report on Monday, February 3rd. Finally, Royal Bank of Canada cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

Shares of FHI opened at $37.68 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a market cap of $3.06 billion, a P/E ratio of 11.81, a PEG 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 stock has a fifty day moving average price of $38.75 and a 200 day moving average price of $38.89.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Federated Hermes will post 4.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FHI. Walleye Capital LLC increased its stake in Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after acquiring an additional 269 shares during the period. Amalgamated Bank boosted its holdings in Federated Hermes by 1.0% during the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after purchasing an additional 313 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after purchasing an additional 340 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in shares of Federated Hermes by 6.8% in the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after purchasing an additional 474 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Federated Hermes by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock worth $424,000 after buying an additional 474 shares in the last quarter. 75.94% of the stock is owned by 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.