Federated Hermes (NYSE:FHI) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Federated Hermes (NYSE:FHI) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 9th. Royal Bank Of Canada lifted their price target on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a report on Thursday, July 2nd. Evercore restated an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. Finally, Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.80.

Federated Hermes Price Performance

NYSE FHI opened at $56.01 on Friday. The firm’s 50 day moving average is $59.92 and its 200-day moving average is $58.33. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $4.18 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.66. Federated Hermes has a 12-month low of $46.66 and a 12-month high of $67.20.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The business had revenue of $502.78 million during the quarter, compared to the consensus estimate of $488.34 million. During the same period last year, the business posted $1.16 EPS. Federated Hermes’s revenue was up 18.3% on a year-over-year basis. Equities research analysts anticipate that Federated Hermes will post 5.51 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 7th. Federated Hermes’s dividend payout ratio is presently 28.25%.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHI. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in shares of Federated Hermes in the 2nd quarter valued at about $1,427,000. Morningstar Investment Management LLC grew its stake in Federated Hermes by 82.6% during the 1st quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company’s stock valued at $2,262,000 after acquiring an additional 18,047 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Federated Hermes during the second quarter worth approximately $2,833,000. Ritholtz Wealth Management grew its holdings in shares of Federated Hermes by 21.9% in the first quarter. Ritholtz Wealth Management now owns 103,840 shares of the company’s stock valued at $5,889,000 after purchasing an additional 18,653 shares during the period. Finally, Congress Asset Management Co. raised its position in shares of Federated Hermes by 21.2% during the 3rd quarter. Congress Asset Management Co. now owns 102,693 shares of the company’s stock valued at $5,789,000 after buying an additional 17,992 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.