Federated Hermes (NYSE:FHI) Upgraded to “Buy” at TD Cowen

TD Cowen upgraded shares of Federated Hermes (NYSE:FHI) from a hold rating to a buy rating in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has $46.00 price target on the stock, up from their prior price target of $35.00.

A number of other analysts also recently commented on FHI. Royal Bank of Canada boosted their target price on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group lifted their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Federated Hermes Price Performance

NYSE FHI opened at $40.14 on Monday. The firm has a market capitalization of $3.32 billion, a PE ratio of 11.40, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 12 month low of $31.08 and a 12 month high of $40.65. The company’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $34.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Buying and Selling at Federated Hermes

In other news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC grew its holdings in Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares during the last quarter. GAMMA Investing LLC raised its holdings in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares during the period. Mather Group LLC. acquired a new position in Federated Hermes during the 2nd quarter worth $47,000. CWM LLC lifted its position in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after acquiring an additional 1,311 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. Institutional investors own 75.94% of the company’s stock.

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.