Federated Hermes (NYSE:FHI) Shares Gap Down to $35.43

Federated Hermes, Inc. (NYSE:FHI) gapped down before the market opened on Friday . The stock had previously closed at $35.43, but opened at $34.32. Federated Hermes shares last traded at $35.13, with a volume of 48,199 shares.

Analyst Ratings Changes

FHI has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. UBS Group cut their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, TD Cowen cut their price target on Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Federated Hermes Price Performance

The stock has a market capitalization of $2.99 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. The stock has a 50-day simple moving average of $32.98 and a 200 day simple moving average of $34.26.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. On average, equities analysts forecast that Federated Hermes, Inc. will post 3.62 earnings per share for the current fiscal year.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the transaction, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the transaction, the vice president now owns 299,572 shares of the company’s stock, valued at $9,885,876. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,361 shares of company stock valued at $76,360. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after purchasing an additional 307 shares during the period. 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 buying an additional 711 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Federated Hermes by 216.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after acquiring an additional 712 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Federated Hermes by 65.7% during the fourth quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after acquiring an additional 548 shares during the period. Finally, Mather Group LLC. bought a new stake in Federated Hermes in the 2nd quarter valued at $47,000. Institutional investors and hedge funds 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.