Federated Hermes (NYSE:FHI) Announces Earnings Results, Beats Estimates By $0.08 EPS

Federated Hermes (NYSE:FHI) released its earnings results on Thursday. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08, Zacks reports. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%.

Federated Hermes Price Performance

Shares of NYSE:FHI traded up $0.30 during midday trading on Thursday, reaching $39.77. 1,395,038 shares of the company were exchanged, compared to its average volume of 674,723. The stock has a market cap of $3.25 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The business’s fifty day moving average is $40.79 and its two-hundred day moving average is $37.89. Federated Hermes has a one year low of $31.24 and a one year high of $43.92. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $42.00 price objective (down from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.17.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Saker Anwar Nusseibeh sold 4,454 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.38, for a total value of $184,306.52. Following the sale, the chief executive officer now directly owns 184,642 shares in the company, valued at $7,640,485.96. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,280 shares of company stock worth $986,421. Insiders own 3.70% of the company’s stock.

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.