Federated Hermes, Inc. (NYSE:FHI) Receives $37.67 Average Price Target from Analysts

Federated Hermes, Inc. (NYSE:FHI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $37.67.

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

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the business’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 directly owns 442,570 shares in the company, valued at $14,476,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now directly owns 298,578 shares in the company, valued at approximately $9,384,306.54. The disclosure for this sale can be found here. Insiders have sold 80,896 shares of company stock valued at $2,644,911 in the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHI. AQR Capital Management LLC grew its position in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Federated Hermes in the first quarter valued at approximately $29,518,000. Wellington Management Group LLP increased its position in shares of Federated Hermes by 59.1% in the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after buying an additional 673,496 shares in the last quarter. Norges Bank acquired a new position in shares of Federated Hermes during the 4th quarter worth approximately $12,474,000. Finally, LSV Asset Management purchased a new position in shares of Federated Hermes during the 2nd quarter valued at approximately $11,913,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Up 0.6 %

NYSE:FHI opened at $34.29 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.10. The company has a 50-day moving average of $33.84 and a 200 day moving average of $33.99. The firm has a market cap of $2.89 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. Federated Hermes’s revenue was down 7.1% on a year-over-year basis. As a group, research analysts anticipate that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio is 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.