Federated Hermes (NYSE:FHI) Downgraded by StockNews.com to “Buy”

Federated Hermes (NYSE:FHI) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

FHI has been the topic of a number of other research reports. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their target price on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group increased their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI increased their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Federated Hermes presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Federated Hermes Stock Performance

Shares of FHI stock opened at $42.86 on Tuesday. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The stock has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $35.38. Federated Hermes has a 12-month low of $31.08 and a 12-month high of $43.23. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, equities analysts forecast that Federated Hermes will post 3.88 EPS for the current year.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the transaction, the vice president now directly owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,280 shares of company stock worth $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares in the last quarter. Mather Group LLC. purchased a new position in Federated Hermes during the 2nd quarter worth approximately $47,000. UMB Bank n.a. grew its position in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. CWM LLC grew its position in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Federated Hermes during the 3rd quarter worth approximately $60,000. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.