Federated Hermes, Inc. (NYSE:FHI) Receives $43.33 Consensus PT from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $43.33.

FHI has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

Federated Hermes Trading Up 0.7 %

FHI opened at $41.05 on Thursday. Federated Hermes has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The firm has a market capitalization of $3.36 billion, a PE ratio of 13.20, a P/E/G ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The company’s 50-day moving average is $41.07 and its 200 day moving average is $36.51.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, research analysts predict that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.02%. Federated Hermes’s payout ratio is currently 39.87%.

Insider Buying and Selling

In related news, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

Several institutional investors have recently made changes to their positions in FHI. CWM LLC raised its stake in shares of Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares during the period. Alpha Omega Wealth Management LLC lifted its holdings in shares of Federated Hermes by 6.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 116,736 shares of the company’s stock worth $3,838,000 after buying an additional 6,924 shares in the last quarter. Legato Capital Management LLC boosted its position in shares of Federated Hermes by 4.7% in the second quarter. Legato Capital Management LLC now owns 47,695 shares of the company’s stock valued at $1,568,000 after acquiring an additional 2,137 shares during the period. ABLE Financial Group LLC bought a new position in shares of Federated Hermes in the second quarter valued at approximately $826,000. Finally, Panagora Asset Management Inc. grew its stake in Federated Hermes by 10.7% during the second quarter. Panagora Asset Management Inc. now owns 96,425 shares of the company’s stock valued at $3,170,000 after acquiring an additional 9,346 shares in the last quarter. Hedge funds and other institutional investors 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.