Federated Hermes, Inc. (NYSE:FHI) Receives $37.67 Consensus PT from Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.67.

Several equities analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. StockNews.com lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. UBS Group lowered their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. TD Cowen reduced their price target on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FHI. Quest Partners LLC purchased a new stake in shares of Federated Hermes in the fourth quarter worth about $1,483,000. GSA Capital Partners LLP grew its holdings in shares of Federated Hermes by 123.8% in the fourth quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock valued at $2,364,000 after purchasing an additional 38,630 shares in the last quarter. Norges Bank bought a new stake in Federated Hermes in the fourth quarter worth $12,474,000. SG Americas Securities LLC raised its stake in Federated Hermes by 267.9% during the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after purchasing an additional 19,530 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Federated Hermes during the first quarter valued at $1,419,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 1.3 %

NYSE:FHI opened at $35.23 on Tuesday. The company has a market cap of $2.96 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $33.96. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.10.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts forecast that Federated Hermes will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.52%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. Federated Hermes’s dividend payout ratio is presently 35.23%.

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.