Federated Hermes (NYSE:FHI) Hits New 52-Week High – What’s Next?

Federated Hermes, Inc. (NYSE:FHI)’s share price reached a new 52-week high on Thursday . The stock traded as high as $43.92 and last traded at $43.57, with a volume of 61881 shares trading hands. The stock had previously closed at $42.80.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Evercore ISI lifted their target price on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and an average target price of $43.33.

Federated Hermes Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.18 and a beta of 1.15. The firm has a 50-day simple moving average of $39.84 and a two-hundred day simple moving average of $35.77.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same period in the previous year, the firm posted $0.86 EPS. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insider Transactions at Federated Hermes

In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction 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 trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,280 shares of company stock valued at $1,185,871. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares during the period. Mather Group LLC. purchased a new position in Federated Hermes in the second quarter worth $47,000. CWM LLC lifted its holdings in Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares during the period. UMB Bank n.a. grew its stake in shares of Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Federated Hermes in the third quarter valued at about $60,000. 75.94% of the stock is owned by institutional investors and hedge funds.

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.