Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $42.17

Federated Hermes, Inc. (NYSE:FHI) has received a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $42.17.

Several analysts have recently weighed in on the company. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada raised their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, UBS Group raised their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd.

Federated Hermes Stock Performance

FHI opened at $38.47 on Monday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16. The stock’s 50 day moving average price is $41.51 and its two-hundred day moving average price is $37.49. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same quarter last year, the firm posted $0.86 EPS. The company’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Federated Hermes will post 3.88 earnings per share for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.22%. Federated Hermes’s payout ratio is 39.87%.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after buying an additional 137,245 shares during the period. AQR Capital Management LLC increased its stake in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares during the period. Geode Capital Management LLC increased its stake in shares of Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after buying an additional 92,643 shares during the period. Millennium Management LLC increased its stake in shares of Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after buying an additional 10,552 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock valued at $28,953,000 after buying an additional 90,900 shares during the period. 75.94% of the stock is 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.