Federated Hermes (NYSE:FHI) Upgraded by StockNews.com to “Strong-Buy” Rating

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

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 28th. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, Evercore ISI set a $44.00 target price on Federated Hermes in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.17.

Federated Hermes Price Performance

Shares of NYSE:FHI traded down $0.15 on Monday, hitting $38.60. The stock had a trading volume of 615,865 shares, compared to its average volume of 704,242. The firm’s 50 day moving average price is $39.13 and its 200-day moving average price is $38.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its earnings results 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 net margin of 16.44% and a return on equity of 30.31%. On average, equities research analysts predict 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 business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently modified their holdings of FHI. State of Alaska Department of Revenue raised its stake in shares of Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after buying an additional 275 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Federated Hermes during the 3rd quarter worth about $1,695,000. ABLE Financial Group LLC grew its position in shares of Federated Hermes by 23.9% during the 3rd quarter. ABLE Financial Group LLC now owns 31,144 shares of the company’s stock worth $1,145,000 after buying an additional 6,016 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Federated Hermes during the 3rd quarter worth about $1,317,000. Finally, Meritage Portfolio Management grew its position in shares of Federated Hermes by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock worth $374,000 after buying an additional 870 shares during the period. 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.