StockNews.com Downgrades Federated Hermes (NYSE:FHI) to Buy

Federated Hermes (NYSE:FHI) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 target price (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Evercore ISI set a $44.00 price objective on Federated Hermes in a research report on Monday, February 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Royal Bank of Canada cut their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group lifted their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Trading Up 0.6 %

NYSE:FHI opened at $41.16 on Tuesday. The company has a market capitalization of $3.35 billion, a PE ratio of 12.90, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92. The stock’s 50 day moving average price is $39.12 and its 200 day moving average price is $39.52. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, research analysts anticipate that Federated Hermes will post 4.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FHI. Walleye Capital LLC increased its holdings in Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock valued at $283,000 after acquiring an additional 269 shares in the last quarter. Amalgamated Bank increased its stake in shares of Federated Hermes by 1.0% during the 4th quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock worth $1,341,000 after purchasing an additional 313 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Federated Hermes by 2.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock worth $612,000 after purchasing an additional 340 shares in the last quarter. MBM Wealth Consultants LLC raised its position in shares of Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock worth $306,000 after purchasing an additional 474 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Federated Hermes by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after buying an additional 474 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.