Federated Hermes (NYSE:FHI) Stock Rating Lowered by Wall Street Zen

Federated Hermes (NYSE:FHI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings upgraded Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 9th. Royal Bank Of Canada raised their price target 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. Evercore reiterated an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a report on Monday, August 10th. Finally, Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.80.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $56.01 on Friday. The company has a fifty day moving average price of $59.92 and a 200 day moving average price of $58.34. The firm has a market cap of $4.18 billion, a PE ratio of 10.41, a PEG ratio of 1.48 and a beta of 0.66. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. Federated Hermes has a 1-year low of $46.66 and a 1-year high of $67.20.

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

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its holdings in Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after buying an additional 194 shares during the period. Root Financial Partners LLC increased its stake in shares of Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after purchasing an additional 237 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Federated Hermes by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock valued at $1,008,000 after purchasing an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Federated Hermes by 2.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,172 shares of the company’s stock worth $860,000 after buying an additional 400 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Federated Hermes by 38.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company’s stock worth $89,000 after buying an additional 434 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

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.