Federated Hermes, Inc. (NYSE:FHI – Get Rating) EVP Peter J. Germain sold 2,380 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $35.47, for a total transaction of $84,418.60. Following the transaction, the executive vice president now owns 205,095 shares of the company’s stock, valued at approximately $7,274,719.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Federated Hermes Stock Performance
Shares of NYSE:FHI traded up $0.76 during midday trading on Friday, reaching $36.06. The company had a trading volume of 1,032,645 shares, compared to its average volume of 879,334. The company’s 50 day moving average price is $39.93 and its 200 day moving average price is $38.67. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.23 billion, a P/E ratio of 12.47 and a beta of 1.05. Federated Hermes, Inc. has a 52-week low of $28.69 and a 52-week high of $45.55.
Federated Hermes (NYSE:FHI – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $382.20 million for the quarter, compared to the consensus estimate of $390.85 million. Federated Hermes had a net margin of 16.85% and a return on equity of 27.83%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.28 EPS for the current fiscal year.
Federated Hermes Increases Dividend
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FHI. Schneider Downs Wealth Management Advisors LP lifted its stake in Federated Hermes by 39.2% in the fourth quarter. Schneider Downs Wealth Management Advisors LP now owns 4,504,318 shares of the company’s stock worth $163,552,000 after acquiring an additional 1,269,097 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Federated Hermes during the first quarter valued at $28,723,000. Invesco Ltd. increased its holdings in shares of Federated Hermes by 61.0% during the first quarter. Invesco Ltd. now owns 1,822,046 shares of the company’s stock valued at $62,060,000 after acquiring an additional 690,423 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Federated Hermes during the first quarter valued at $20,889,000. Finally, BlackRock Inc. increased its holdings in shares of Federated Hermes by 3.7% during the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after acquiring an additional 466,504 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on FHI. Deutsche Bank Aktiengesellschaft raised their target price on shares of Federated Hermes from $44.00 to $45.00 in a research note on Monday, May 1st. StockNews.com initiated coverage on shares of Federated Hermes in a research report on Thursday, May 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Federated Hermes from an “underweight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $47.00 in a report on Tuesday, April 11th. Finally, Evercore ISI raised their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.40.
Federated Hermes Company Profile
Federated Hermes, Inc is engaged in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, federated funds, and separate accounts which include separately managed accounts, institutional accounts, sub-advised funds and other managed products in both domestic and international markets.
- Get a free copy of the StockNews.com research report on Federated Hermes (FHI)
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