Federated Hermes (NYSE:FHI) Hits New 1-Year High – Here’s What Happened

Federated Hermes, Inc. (NYSE:FHI)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $60.77 and last traded at $60.2110, with a volume of 45352 shares traded. The stock had previously closed at $58.87.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FHI shares. Evercore restated an “outperform” rating and set a $59.00 target price on shares of Federated Hermes in a report on Monday, June 8th. TD Cowen reduced their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has an average rating of “Hold” and an average target price of $55.75.

Federated Hermes Price Performance

The company has a fifty day simple moving average of $56.58 and a two-hundred day simple moving average of $55.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 2.04 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. The business had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, research analysts anticipate that Federated Hermes, Inc. will post 5.12 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.38 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is presently 29.46%.

Insiders Place Their Bets

In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by company insiders.

Institutional Trading of Federated Hermes

A number of institutional investors have recently modified their holdings of the company. Torren Management LLC acquired a new stake in Federated Hermes during the 4th quarter worth approximately $25,000. Root Financial Partners LLC increased its holdings in Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after purchasing an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Federated Hermes by 119.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after purchasing an additional 594 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.