Federated Hermes (NYSE:FHI) Announces Earnings Results, Beats Expectations By $0.08 EPS

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.08, Zacks reports. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%.

Federated Hermes Stock Up 0.8 %

Shares of Federated Hermes stock traded up $0.30 on Thursday, hitting $39.77. 1,394,918 shares of the company’s stock traded hands, compared to its average volume of 651,456. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $40.79 and its 200 day moving average is $37.89. The stock has a market cap of $3.25 billion, a P/E ratio of 12.79, a PEG ratio of 1.39 and a beta of 1.16. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92.

Analyst Ratings Changes

Several analysts have commented on the company. Evercore ISI lifted their price target on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the company from $35.00 to $46.00 in a report on Monday, October 28th. Royal Bank of Canada decreased their price target on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and an average price target of $42.17.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,280 shares of company stock valued at $986,421 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Company Profile

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.