Federated Hermes (NYSE:FHI) Earns Buy Rating from Analysts at StockNews.com

Posted by Eileen French on Mar 19th, 2023

StockNews.com initiated coverage on shares of Federated Hermes (NYSE:FHI – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Federated Hermes from $42.00 to $44.00 in a report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $36.13.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $39.71 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $39.25 and its two-hundred day moving average price is $36.50. Federated Hermes has a 52-week low of $27.88 and a 52-week high of $41.20. The stock has a market capitalization of $3.55 billion, a P/E ratio of 14.93 and a beta of 1.05.

Federated Hermes (NYSE:FHI – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Federated Hermes had a return on equity of 26.80% and a net margin of 16.57%. The business had revenue of $373.90 million for the quarter, compared to the consensus estimate of $381.41 million. As a group, sell-side analysts forecast that Federated Hermes will post 3.22 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. Federated Hermes’s dividend payout ratio is presently 40.60%.

Insider Activity at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 985 shares of Federated Hermes stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $39.39, for a total transaction of $38,799.15. Following the sale, the insider now owns 46,854 shares of the company’s stock, valued at approximately $1,845,579.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael J. Farrell sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $38.64, for a total value of $386,400.00. Following the completion of the sale, the director now directly owns 50,200 shares of the company’s stock, valued at approximately $1,939,728. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard A. Novak sold 985 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $39.39, for a total transaction of $38,799.15. Following the completion of the transaction, the insider now owns 46,854 shares of the company’s stock, valued at $1,845,579.06. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock worth $833,461 in the last three months. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors have recently added to or reduced their stakes in FHI. Wipfli Financial Advisors LLC acquired a new position in shares of Federated Hermes during the 3rd quarter valued at $30,000. CENTRAL TRUST Co grew its holdings in Federated Hermes by 310.8% during the third quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock worth $50,000 after acquiring an additional 1,150 shares during the period. Ronald Blue Trust Inc. raised its position in Federated Hermes by 158.8% in the third quarter. Ronald Blue Trust Inc. now owns 1,716 shares of the company’s stock worth $54,000 after acquiring an additional 1,053 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Federated Hermes by 157.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $71,000 after acquiring an additional 1,199 shares during the last quarter. Finally, Adalta Capital Management LLC acquired a new stake in Federated Hermes in the 4th quarter valued at about $91,000. 78.82% of the stock is currently owned by institutional investors and hedge funds.

About Federated Hermes

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Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.