Federated Hermes (NYSE:FHI) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Federated Hermes (NYSE:FHI) from a strong-buy rating to a buy rating in a research note published on Friday.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 14th. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. TD Cowen upped their price objective on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Cowen reissued a “hold” rating on shares of Federated Hermes in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.67.

Federated Hermes Price Performance

FHI opened at $50.17 on Friday. The company’s 50-day simple moving average is $50.33 and its two-hundred day simple moving average is $48.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The stock has a market capitalization of $3.89 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.54 and a beta of 0.83. Federated Hermes has a 52-week low of $35.05 and a 52-week high of $54.42.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm had revenue of $469.45 million during the quarter, compared to analyst estimates of $442.67 million. During the same period in the previous year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts predict that Federated Hermes will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 7th. This represents a $1.36 annualized dividend and a yield of 2.7%. Federated Hermes’s payout ratio is 28.39%.

Insider Buying and Selling at Federated Hermes

In other news, insider Richard A. Novak sold 1,249 shares of Federated Hermes stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total transaction of $59,764.65. Following the transaction, the insider directly owned 57,500 shares of the company’s stock, valued at $2,751,375. The trade was a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 4,461 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $213,458.85. Following the transaction, the chief executive officer owned 161,578 shares of the company’s stock, valued at approximately $7,731,507.30. This trade represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,709 shares of company stock valued at $1,049,146. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently modified their holdings of the company. MAI Capital Management raised its position in shares of Federated Hermes by 86.7% during the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after purchasing an additional 221 shares during the period. Diversified Trust Co increased its stake in Federated Hermes by 2.6% in the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock worth $400,000 after buying an additional 229 shares in the last quarter. GAMMA Investing LLC raised its holdings in Federated Hermes by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock valued at $131,000 after acquiring an additional 241 shares during the period. CW Advisors LLC lifted its position in shares of Federated Hermes by 3.8% in the first quarter. CW Advisors LLC now owns 7,168 shares of the company’s stock valued at $292,000 after acquiring an additional 261 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Federated Hermes by 0.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,934 shares of the company’s stock worth $3,580,000 after acquiring an additional 272 shares during the period. 75.94% of the stock is currently 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.