Federated Hermes (NYSE:FHI) Sets New 12-Month High – Here’s Why
by Doug Wharley · The Cerbat GemFederated Hermes, Inc. (NYSE:FHI – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $54.48 and last traded at $54.1420, with a volume of 219772 shares. The stock had previously closed at $53.41.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on FHI. Cowen restated a “hold” rating on shares of Federated Hermes in a research note on Wednesday. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Finally, TD Cowen boosted their price target on shares of Federated Hermes from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $51.20.
Read Our Latest Report on Federated Hermes
Federated Hermes Stock Performance
The company has a current ratio of 3.13, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.54 and a beta of 0.75. The stock’s 50 day moving average is $51.35 and its two-hundred day moving average is $50.84.
Federated Hermes (NYSE:FHI – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. During the same period in the previous year, the business posted $1.06 earnings per share. Federated Hermes’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.
Federated Hermes Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes’s payout ratio is presently 28.39%.
Insider Transactions at Federated Hermes
In related news, insider Richard A. Novak sold 1,249 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total transaction of $59,764.65. Following the completion of the sale, the insider directly owned 57,500 shares of the company’s stock, valued at $2,751,375. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dolores D. Dudiak sold 999 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total transaction of $47,822.13. Following the completion of the transaction, the vice president directly owned 88,223 shares in the company, valued at $4,223,235.01. This represents a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,709 shares of company stock worth $1,049,146 over the last 90 days. 3.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Schneider Downs Wealth Management Advisors LP boosted its holdings in Federated Hermes by 3,229.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after purchasing an additional 2,577,442 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Federated Hermes by 77.6% in the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company’s stock valued at $87,139,000 after buying an additional 859,053 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Federated Hermes by 2,410.2% in the third quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock valued at $40,479,000 after buying an additional 748,439 shares in the last quarter. Invesco Ltd. grew its holdings in Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after acquiring an additional 670,643 shares during the period. Finally, Jupiter Asset Management Ltd. grew its holdings in Federated Hermes by 2,427.2% during the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after acquiring an additional 506,500 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.
About Federated Hermes
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.