Federated Hermes (NYSE:FHI) Announces Quarterly Earnings Results

by · The Markets Daily

Federated Hermes (NYSE:FHI – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.20, FiscalAI reports. The firm had revenue of $482.83 million for the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%.

Federated Hermes Stock Performance

Shares of Federated Hermes stock traded up $0.16 during trading hours on Thursday, hitting $53.07. 1,248,324 shares of the company’s stock traded hands, compared to its average volume of 596,787. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.55 and a beta of 0.75. Federated Hermes has a 12-month low of $35.05 and a 12-month high of $55.13. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.13 and a quick ratio of 2.58. The company has a fifty day simple moving average of $52.16 and a 200-day simple moving average of $51.40.

Insider Activity at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 1,249 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the transaction, the insider directly owned 57,500 shares in the company, valued at $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 999 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.87, for a total transaction of $47,822.13. Following the sale, the vice president owned 88,223 shares of the company’s stock, valued at approximately $4,223,235.01. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,709 shares of company stock worth $1,049,146. 3.80% of the stock is owned by company insiders.

Institutional Trading of Federated Hermes

Several hedge funds have recently made changes to their positions in FHI. Jones Financial Companies Lllp grew its stake in shares of Federated Hermes by 236.0% during the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after acquiring an additional 6,244 shares during the period. United Services Automobile Association purchased a new stake in Federated Hermes during the first quarter valued at about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Federated Hermes by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock worth $9,769,000 after purchasing an additional 24,960 shares during the period. American Century Companies Inc. boosted its position in Federated Hermes by 1.9% during the second quarter. American Century Companies Inc. now owns 33,246 shares of the company’s stock worth $1,474,000 after purchasing an additional 614 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Federated Hermes by 4.9% in the second quarter. Prudential Financial Inc. now owns 11,744 shares of the company’s stock worth $497,000 after purchasing an additional 547 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on FHI shares. Wall Street Zen upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. TD Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and an average target price of $51.20.

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About Federated Hermes

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Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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