StockNews.com cut shares of Federated Hermes (NYSE:FHI – Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
FHI has been the topic of a number of other research reports. UBS Group decreased their price target on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Finally, TD Cowen reduced their target price on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $37.83.
Federated Hermes Stock Performance
Shares of NYSE:FHI traded down $0.05 during trading on Wednesday, reaching $34.75. 407,657 shares of the stock were exchanged, compared to its average volume of 747,266. The firm has a market cap of $2.87 billion, a PE ratio of 9.89, a PEG ratio of 1.34 and a beta of 1.17. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.10. The stock has a 50-day moving average price of $33.65 and a 200-day moving average price of $34.02.
Federated Hermes (NYSE:FHI – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Research analysts expect that Federated Hermes will post 3.62 EPS for the current fiscal year.
Federated Hermes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.57%. Federated Hermes’s dividend payout ratio is currently 35.23%.
Insiders Place Their Bets
In related news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John B. Fisher sold 79,830 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. Insiders sold 80,896 shares of company stock valued at $2,644,911 over the last ninety days. 3.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Federated Hermes
Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. bought a new position in Federated Hermes in the 1st quarter valued at approximately $29,518,000. Wellington Management Group LLP boosted its stake in Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after purchasing an additional 673,496 shares during the last quarter. Norges Bank bought a new stake in shares of Federated Hermes in the 4th quarter worth $12,474,000. Finally, LSV Asset Management bought a new stake in shares of Federated Hermes in the 2nd quarter worth $11,913,000. 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.