Federated Hermes (NYSE:FHI) Announces Earnings Results

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

Federated Hermes Stock Down 4.0 %

Shares of FHI traded down $1.35 during midday trading on Friday, reaching $32.80. 1,794,066 shares of the stock were exchanged, compared to its average volume of 773,635. The company 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 firm has a 50 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FHI shares. TD Cowen assumed coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective for the company. Royal Bank of Canada lifted their price target on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. UBS Group increased their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.50.

Insider Activity at Federated Hermes

In other news, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the transaction, the vice president now owns 31,689 shares in the company, valued at approximately $1,145,557.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the company’s stock in a transaction that occurred 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 $10,222,015.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Meter Stephen Van sold 1,660 shares of Federated Hermes stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares in the company, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is owned by corporate insiders.

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.