Federated Hermes, Inc. (NYSE:FHI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $42.00.

Several brokerages recently commented on FHI. StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI increased their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $46.00 in a research note on Monday. Finally, UBS Group increased their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.

Federated Hermes Stock Performance

NYSE FHI opened at $39.71 on Wednesday. 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 firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s 50 day simple moving average is $36.08 and its 200 day simple moving average is $34.24. Federated Hermes has a 1 year low of $30.98 and a 1 year high of $40.36.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. As a group, research analysts expect that Federated Hermes will post 3.68 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s payout ratio is currently 35.23%.

Insider Activity

In other news, VP John B. Fisher sold 79,830 shares of the firm’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 of the company’s stock, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Large investors have recently modified their holdings of the company. Headlands Technologies LLC increased its position in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares during the period. GAMMA Investing LLC grew its holdings in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the period. Mather Group LLC. acquired a new stake in Federated Hermes in the second quarter worth $47,000. Hexagon Capital Partners LLC grew its holdings in Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after purchasing an additional 317 shares during the period. Finally, UMB Bank n.a. grew its holdings in Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.