Federated Hermes (NYSE:FHI) Reaches New 1-Year High – Here’s Why

Federated Hermes, Inc. (NYSE:FHI) reached a new 52-week high during trading on Wednesday . The company traded as high as $42.27 and last traded at $42.27, with a volume of 1542 shares changing hands. The stock had previously closed at $40.44.

Analyst Ratings Changes

A number of research analysts have commented on FHI shares. Evercore ISI upped their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. UBS Group upped their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Federated Hermes Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The company has a market capitalization of $3.39 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The stock’s 50 day simple moving average is $36.87 and its 200-day simple moving average is $34.47.

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. The company had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, equities analysts forecast that Federated Hermes, Inc. will post 3.83 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. Federated Hermes’s payout ratio is 39.87%.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHI. Mirae Asset Global Investments Co. Ltd. acquired a new position in Federated Hermes in the first quarter valued at approximately $1,542,000. BNP Paribas Financial Markets boosted its holdings in Federated Hermes by 69.3% in the first quarter. BNP Paribas Financial Markets now owns 36,615 shares of the company’s stock valued at $1,323,000 after purchasing an additional 14,987 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Federated Hermes by 92.2% in the first quarter. SG Americas Securities LLC now owns 7,290 shares of the company’s stock valued at $263,000 after purchasing an additional 3,497 shares in the last quarter. Inspire Investing LLC acquired a new position in Federated Hermes in the first quarter valued at approximately $892,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

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.