Federated Hermes (NYSE:FHI) Announces Earnings Results

Federated Hermes (NYSE:FHI) announced its earnings results on Thursday. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08, Zacks reports. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%.

Federated Hermes Trading Up 0.8 %

Shares of NYSE:FHI opened at $39.77 on Friday. The company has a market capitalization of $3.25 billion, a PE ratio of 12.79, a PEG ratio of 1.46 and a beta of 1.16. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The business has a 50 day moving average of $40.75 and a two-hundred day moving average of $37.90. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Insider Activity

In other Federated Hermes news, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 4,454 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total transaction of $184,306.52. Following the completion of the sale, the chief executive officer now owns 184,642 shares in the company, valued at approximately $7,640,485.96. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,280 shares of company stock valued at $986,421 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FHI has been the topic of several analyst reports. Royal Bank of Canada cut their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $42.00 price target (down from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Evercore ISI raised their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.17.

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.