Federated Hermes (NYSE:FHI) Hits New 52-Week High at $37.31

Federated Hermes, Inc. (NYSE:FHI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $37.31 and last traded at $37.31, with a volume of 77838 shares. The stock had previously closed at $36.71.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore ISI decreased their target price on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. 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. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. UBS Group reduced their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.67.

Federated Hermes Price Performance

The firm has a market capitalization of $3.13 billion, a PE ratio of 10.43, a PEG ratio of 1.33 and a beta of 1.16. The stock has a 50-day moving average price of $34.22 and a 200 day moving average price of $33.96. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

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

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is 35.23%.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds have recently bought and sold shares of FHI. Charles Schwab Investment Management Inc. raised its position in Federated Hermes by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 479,008 shares of the company’s stock valued at $16,219,000 after purchasing an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets raised its position in Federated Hermes by 111.4% in the 4th quarter. BNP Paribas Financial Markets now owns 21,628 shares of the company’s stock valued at $732,000 after purchasing an additional 11,396 shares in the last quarter. Norges Bank acquired a new stake in Federated Hermes in the 4th quarter valued at about $12,474,000. Parallel Advisors LLC raised its position in Federated Hermes by 23.4% in the 4th quarter. Parallel Advisors LLC now owns 2,187 shares of the company’s stock valued at $74,000 after purchasing an additional 414 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Federated Hermes by 0.4% during the 4th quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock worth $3,354,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 75.94% 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.