Federated Hermes, Inc. (NYSE:FHI)’s stock price gapped down prior to trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $45.00 to $42.00. The stock had previously closed at $34.46, but opened at $32.93. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Federated Hermes shares last traded at $33.22, with a volume of 456 shares traded.
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on Federated Hermes from $34.00 to $31.00 in a research report on Tuesday, January 25th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.63.
In related news, Vice Chairman Gordon J. Ceresino sold 32,428 shares of the stock in a transaction on Friday, February 11th. The stock was sold at an average price of $33.65, for a total transaction of $1,091,202.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its holdings in Federated Hermes by 109.3% in the 4th quarter. Allworth Financial LP now owns 766 shares of the company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. HM Payson & Co. bought a new position in Federated Hermes in the 2nd quarter valued at $34,000. UMB Bank N A MO bought a new position in Federated Hermes in the 4th quarter valued at $52,000. FORA Capital LLC bought a new position in Federated Hermes in the 2nd quarter valued at $60,000. Finally, Allegheny Financial Group LTD bought a new stake in shares of Federated Hermes during the fourth quarter worth $94,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.20, a current ratio of 2.07 and a quick ratio of 1.43. The business has a 50 day moving average of $35.67 and a 200 day moving average of $34.13. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.08 and a beta of 1.14.
Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, January 27th. The company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The firm had revenue of $321.65 million during the quarter, compared to analysts’ expectations of $331.17 million. Federated Hermes had a return on equity of 24.21% and a net margin of 20.78%. The company’s revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. As a group, equities analysts predict that Federated Hermes, Inc. will post 3.15 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 15th. Investors of record on Tuesday, February 8th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, February 7th. This represents a $1.08 annualized dividend and a yield of 3.23%. Federated Hermes’s payout ratio is presently 39.27%.
Federated Hermes Company Profile (NYSE:FHI)
Federated Hermes, Inc engages 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 (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets.