Federated Hermes’ (FHI) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Federated Hermes (NYSE:FHI) in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has a $43.00 price objective on the stock, down from their previous price objective of $45.00.

Other analysts have also recently issued research reports about the stock. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $46.00 in a report on Monday, October 28th. Evercore ISI boosted their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $42.00 target price (down from $49.00) on shares of Federated Hermes in a report on Tuesday. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Stock Down 2.3 %

Shares of FHI opened at $38.39 on Wednesday. The company’s 50-day moving average price is $41.59 and its 200 day moving average price is $37.35. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.14 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16.

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

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insider Transactions at Federated Hermes

In related news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This represents a 6.08 % 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, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock worth $1,185,871 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares in the last quarter. AQR Capital Management LLC grew its holdings in Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Federated Hermes by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after buying an additional 92,643 shares in the last quarter. Millennium Management LLC raised its stake in shares of Federated Hermes by 1.1% during the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after buying an additional 10,552 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after buying an additional 90,900 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.