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

Federated Hermes (NYSE:FHI) released its earnings results on Thursday. The company reported $1.04 earnings per share for the quarter, beating 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 Trading Up 0.8 %

Shares of Federated Hermes stock traded up $0.30 on Thursday, hitting $39.77. 1,395,038 shares of the company traded hands, compared to its average volume of 674,723. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.25 billion, a PE ratio of 12.79, a PEG ratio of 1.39 and a beta of 1.16. The stock’s 50 day moving average price is $40.79 and its 200-day moving average price is $37.89. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92.

Analyst Ratings Changes

FHI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed 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. Evercore ISI upped their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada cut their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.17.

Insider Buying and Selling

In other news, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction 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. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,280 shares of company stock valued at $986,421 over the last quarter. 3.70% of the stock is owned by corporate insiders.

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.