Federated Hermes (NYSE:FHI) PT Lowered to $37.00

Federated Hermes (NYSE:FHI) had its price objective lowered by Evercore ISI from $39.00 to $37.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on FHI. JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a research report on Wednesday, April 17th. UBS Group boosted their price objective on Federated Hermes from $37.00 to $39.00 and gave the company a neutral rating in a report on Friday, April 12th. TD Cowen started coverage on Federated Hermes in a report on Thursday, January 4th. They set a market perform rating and a $32.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $38.29.

Federated Hermes Trading Down 0.2 %

Shares of Federated Hermes stock opened at $32.79 on Wednesday. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $41.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 3.39. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.92 and a beta of 1.14. The stock has a 50 day moving average of $35.45 and a 200 day moving average of $34.09.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm had revenue of $396.37 million for the quarter, compared to analyst estimates of $400.26 million. During the same period in the previous year, the firm earned $0.78 EPS. Federated Hermes’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Federated Hermes will post 3.67 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.31 per share. This is a boost from Federated Hermes’s previous None dividend of $1.27. This represents a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 7th. Federated Hermes’s payout ratio is 31.82%.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 90,745 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the transaction, the vice president now directly owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now directly owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,775 shares of company stock worth $4,032,822. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FHI. Capstone Investment Advisors LLC grew its holdings in shares of Federated Hermes by 11.4% during the first quarter. Capstone Investment Advisors LLC now owns 14,151 shares of the company’s stock worth $511,000 after buying an additional 1,449 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Federated Hermes by 69.3% in the first quarter. BNP Paribas Financial Markets now owns 36,615 shares of the company’s stock valued at $1,323,000 after purchasing an additional 14,987 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Federated Hermes during the first quarter worth approximately $1,542,000. Meritage Portfolio Management acquired a new stake in shares of Federated Hermes during the first quarter worth $337,000. Finally, Hourglass Capital LLC grew its position in Federated Hermes by 12.0% in the 1st quarter. Hourglass Capital LLC now owns 186,118 shares of the company’s stock valued at $6,723,000 after buying an additional 20,004 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Company Profile

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.