StockNews.com Downgrades Federated Hermes (NYSE:FHI) to Buy

Federated Hermes (NYSE:FHI) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

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

Federated Hermes Trading Down 3.1 %

Shares of FHI stock opened at $37.68 on Tuesday. Federated Hermes has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The company has a 50 day moving average price of $38.75 and a 200 day moving average price of $38.89. The stock has a market capitalization of $3.06 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Equities research analysts predict that Federated Hermes will post 4.04 EPS for the current fiscal year.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Hedge funds have recently modified their holdings of the stock. Walleye Capital LLC grew its stake in shares of Federated Hermes by 4.1% during the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after acquiring an additional 269 shares in the last quarter. Amalgamated Bank boosted its holdings in Federated Hermes by 1.0% in the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after purchasing an additional 313 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after purchasing an additional 340 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings in Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock worth $306,000 after purchasing an additional 474 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Federated Hermes by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after purchasing an additional 474 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.