Federated Hermes (NYSE:FHI) Announces Earnings Results, Beats Estimates By $0.19 EPS

Federated Hermes (NYSE:FHI) issued its quarterly earnings data on Thursday. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19, Zacks reports. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.During the same quarter last year, the firm posted $1.16 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year.

Federated Hermes Stock Performance

Federated Hermes stock traded down $0.45 during mid-day trading on Thursday, reaching $59.63. The company’s stock had a trading volume of 663,799 shares, compared to its average volume of 538,824. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. Federated Hermes has a twelve month low of $46.66 and a twelve month high of $61.01. The business has a 50 day moving average price of $57.65 and a 200-day moving average price of $56.23. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.62 and a beta of 0.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FHI shares. Evercore reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Federated Hermes in a research report on Monday, June 8th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research note on Friday, July 17th. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen reduced their price objective on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $55.75.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bryan M. Burke sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares in the company, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of FHI. CIBC Private Wealth Group LLC increased its stake in shares of Federated Hermes by 119.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the period. Parkside Financial Bank & Trust grew its holdings in Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock worth $44,000 after buying an additional 503 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Federated Hermes in the 2nd quarter worth approximately $56,000. EverSource Wealth Advisors LLC raised its stake in Federated Hermes by 76.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock valued at $69,000 after acquiring an additional 679 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Federated Hermes during the second quarter valued at $76,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.