Federated Hermes (NYSE:FHI) Raised to Strong-Buy at StockNews.com

Federated Hermes (NYSE:FHI - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Monday.

Several other brokerages have also recently issued reports on FHI. Royal Bank of Canada cut their target price on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group raised their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Evercore ISI lifted their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and an average price target of $41.67.

Federated Hermes Price Performance

NYSE FHI traded up $0.22 on Monday, reaching $40.83. 1,731,108 shares of the company's stock traded hands, compared to its average volume of 732,559. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a 50-day simple moving average of $38.73 and a 200 day simple moving average of $39.70. The stock has a market cap of $3.32 billion, a PE ratio of 12.80, a P/E/G ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. During the same period last year, the business earned $0.89 earnings per share. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Trading of Federated Hermes

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after acquiring an additional 614 shares during the last quarter. Quarry LP bought a new stake in Federated Hermes in the 4th quarter valued at $37,000. R Squared Ltd bought a new stake in shares of Federated Hermes in the 4th quarter worth about $43,000. Sound Income Strategies LLC purchased a new position in shares of Federated Hermes during the 4th quarter worth about $53,000. Finally, GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after purchasing an additional 646 shares during the period. 75.94% of the stock is currently 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.