Federated Hermes (NYSE:FHI) Hits New 1-Year High – Here’s What Happened

Shares of Federated Hermes, Inc. (NYSE:FHI) reached a new 52-week high during trading on Friday . The stock traded as high as $60.77 and last traded at $60.2110, with a volume of 45352 shares changing hands. The stock had previously closed at $58.87.

Analyst Ratings Changes

Several research analysts have issued reports on FHI shares. JPMorgan Chase & Co. lowered their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. TD Cowen reduced their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. Royal Bank Of Canada increased their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. Evercore reissued an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a report on Monday, June 8th. Finally, Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.75.

Federated Hermes Stock Up 1.4%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.04 and a beta of 0.65. The firm has a fifty day moving average price of $56.58 and a 200 day moving average price of $55.64.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The firm had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. Federated Hermes’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 5.12 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes’s dividend payout ratio is currently 29.46%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total transaction 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. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Bryan M. Burke sold 4,000 shares of the 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 transaction, the vice president directly owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. This trade represents 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 Investors Weigh In On Federated Hermes

Several institutional investors have recently modified their holdings of the company. Torren Management LLC purchased a new position in Federated Hermes in the 4th quarter valued at approximately $25,000. Root Financial Partners LLC boosted its position in Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after purchasing an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Federated Hermes by 119.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Federated Hermes by 145.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after purchasing an additional 503 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after purchasing an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.