Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results

Federated Hermes (NYSE:FHI) issued its quarterly earnings results on Thursday. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89, Briefing.com reports. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share.

Federated Hermes Stock Down 4.0 %

Shares of FHI traded down $1.35 during mid-day trading on Friday, reaching $32.80. 1,806,398 shares of the stock traded hands, compared to its average volume of 770,088. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.82 and a beta of 1.12. The stock has a fifty day simple moving average of $35.64 and a 200 day simple moving average of $34.11. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $42.57. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the sale, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the sale, the chief executive officer now owns 178,176 shares in the company, valued at $6,441,062.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Insiders have sold 115,435 shares of company stock worth $4,092,831 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Federated Hermes Company Profile

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.