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

Federated Hermes (NYSE:FHI) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

FHI has been the subject of several other research reports. Royal Bank Of Canada lifted their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. Cowen reissued a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. TD Cowen upped their price objective on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Federated Hermes Trading Down 0.3%

Shares of NYSE:FHI traded down $0.15 during midday trading on Friday, reaching $50.17. The company’s stock had a trading volume of 222,117 shares, compared to its average volume of 749,865. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.54 and a beta of 0.83. 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 firm has a 50 day moving average price of $50.33 and a two-hundred day moving average price of $48.54. Federated Hermes has a fifty-two week low of $35.05 and a fifty-two week high of $54.42.

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

Insider Buying and Selling

In other Federated Hermes news, insider Richard A. Novak sold 1,249 shares of Federated Hermes stock in a transaction on Wednesday, November 19th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 4,461 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total transaction of $213,458.85. Following the completion of the sale, the chief executive officer owned 161,578 shares of the company’s stock, valued at approximately $7,731,507.30. The trade was a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,709 shares of company stock worth $1,049,146. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FHI. Envestnet Asset Management Inc. grew its position in Federated Hermes by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,057 shares of the company’s stock worth $899,000 after purchasing an additional 837 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Federated Hermes by 2.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,900 shares of the company’s stock worth $485,000 after buying an additional 286 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Federated Hermes by 373.9% in the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock worth $3,729,000 after buying an additional 72,173 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Federated Hermes in the first quarter valued at approximately $214,000. Finally, XTX Topco Ltd bought a new position in shares of Federated Hermes in the first quarter valued at approximately $238,000. 75.94% of the stock is owned by institutional investors.

Federated Hermes Company Profile

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.