Federated Hermes (NYSE:FHI) Posts Earnings Results, Hits Expectations

Federated Hermes (NYSE:FHI) released its quarterly earnings data on Thursday. The company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89, Briefing.com reports. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.

Federated Hermes Stock Down 4.0 %

Shares of Federated Hermes stock traded down $1.35 during trading hours on Friday, reaching $32.80. 1,806,398 shares of the company’s stock were exchanged, compared to its average volume of 773,635. The company has a 50 day moving average of $35.64 and a two-hundred day moving average of $34.11. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $42.57. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.77 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.82 and a beta of 1.12.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Federated Hermes

In other news, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 289,904 shares in the company, valued at approximately $10,222,015.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now directly owns 289,904 shares in the company, valued at approximately $10,222,015.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock worth $4,092,831 in the last three months. Insiders own 3.70% of the company’s stock.

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.