Federated Hermes (NYSE:FHI) Hits New 12-Month High – Here’s What Happened

Federated Hermes, Inc. (NYSE:FHI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $59.05 and last traded at $58.9630, with a volume of 119667 shares. The stock had previously closed at $58.21.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. TD Cowen lowered their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $59.00 price target on shares of Federated Hermes in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Federated Hermes Price Performance

The firm has a market capitalization of $4.47 billion, a PE ratio of 11.41, a P/E/G ratio of 2.08 and a beta of 0.65. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $56.32 and a two-hundred day moving average price of $54.83.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that Federated Hermes, Inc. will post 5.1 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio (DPR) is currently 29.46%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the transaction, the chief executive officer directly owned 151,276 shares in the company, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in FHI. Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Federated Hermes by 3,229.0% in the third 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 during the period. Victory Capital Management Inc. grew its position in Federated Hermes by 2,410.2% in the 3rd 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 during the last quarter. Invesco Ltd. increased its stake in Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after buying an additional 670,643 shares during the period. Jupiter Asset Management Ltd. increased its stake in Federated Hermes by 2,427.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after buying an additional 506,500 shares during the period. Finally, AQR Capital Management LLC raised its position in Federated Hermes by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after buying an additional 498,202 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

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.