Wall Street Zen Upgrades Federated Hermes (NYSE:FHI) to “Buy”

by · The Cerbat Gem

Federated Hermes (NYSE:FHI – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

FHI has been the topic of a number of other research reports. Evercore reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a research note on Monday, August 10th. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 target price on shares of Federated Hermes in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings raised shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Read Our Latest Research Report on Federated Hermes

Federated Hermes Trading Up 0.1%

FHI stock opened at $59.64 on Friday. Federated Hermes has a 1-year low of $46.66 and a 1-year high of $67.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.58 and a beta of 0.65. The business has a 50 day simple moving average of $61.42 and a two-hundred day simple moving average of $58.27.

Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. The business had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. Research analysts anticipate that Federated Hermes will post 5.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FHI. Root Financial Partners LLC lifted its holdings in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after acquiring an additional 237 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Federated Hermes by 145.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after purchasing an additional 594 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after purchasing an additional 194 shares during the period. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

(Get Free Report)

Federated Hermes, Inc (NYSE:FHI) is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.

The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.

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