Federated Hermes (NYSE:FHI) Rating Lowered to Buy at StockNews.com

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

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. UBS Group upped their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, Evercore ISI set a $44.00 target price on Federated Hermes in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Price Performance

NYSE:FHI opened at $41.16 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The stock’s 50-day moving average price is $39.12 and its 200-day moving average price is $39.52. The stock has a market capitalization of $3.35 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, equities analysts expect that Federated Hermes will post 4.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Federated Hermes during the 4th quarter worth $292,000. Inspire Investing LLC acquired a new position in Federated Hermes in the fourth quarter valued at about $829,000. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after buying an additional 145,878 shares during the period. Sanctuary Advisors LLC increased its position in shares of Federated Hermes by 78.5% during the fourth quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock valued at $916,000 after acquiring an additional 10,135 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new stake in shares of Federated Hermes in the 4th quarter valued at approximately $727,000. 75.94% of the stock is currently 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.