Federated Hermes (NYSE:FHI) Sets New 12-Month High – Here’s Why
by Kim Johansen · The Markets DailyFederated Hermes, Inc. (NYSE:FHI – Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $54.99 and last traded at $54.06, with a volume of 164 shares trading hands. The stock had previously closed at $54.01.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Cowen reiterated a “hold” rating on shares of Federated Hermes in a report on Tuesday, November 4th. Evercore ISI upped their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Finally, TD Cowen lifted their price target on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.67.
Check Out Our Latest Research Report on FHI
Federated Hermes Trading Up 0.4%
The stock’s 50 day moving average price is $50.25 and its 200-day moving average price is $49.73. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.21 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.57 and a beta of 0.76.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. The business had revenue of $469.45 million for the quarter, compared to the consensus estimate of $442.67 million. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.
Federated Hermes Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s dividend payout ratio is presently 28.39%.
Insider Transactions at Federated Hermes
In other news, VP Dolores D. Dudiak sold 999 shares of Federated Hermes stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total value of $47,822.13. Following the transaction, the vice president owned 88,223 shares of the company’s stock, valued at $4,223,235.01. The trade was a 1.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard A. Novak sold 1,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $59,764.65. Following the completion of the sale, the insider owned 57,500 shares of the company’s stock, valued at approximately $2,751,375. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,709 shares of company stock valued at $1,049,146 in the last 90 days. Insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Federated Hermes
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Federated Hermes during the 3rd quarter valued at about $1,241,000. Morningstar Investment Management LLC purchased a new position in shares of Federated Hermes in the third quarter worth about $1,135,000. Kestra Private Wealth Services LLC lifted its holdings in shares of Federated Hermes by 4.5% during the third quarter. Kestra Private Wealth Services LLC now owns 9,830 shares of the company’s stock worth $510,000 after purchasing an additional 424 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its position in Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after buying an additional 2,577,442 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Federated Hermes by 28.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 778,946 shares of the company’s stock worth $40,451,000 after buying an additional 171,442 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.
About Federated Hermes
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.