UBS Group Cuts Federated Hermes (NYSE:FHI) Price Target to $35.00

Federated Hermes (NYSE:FHI) had its price objective trimmed by UBS Group from $36.00 to $35.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on FHI. JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a research note on Wednesday, April 17th. Evercore ISI reduced their target price on Federated Hermes from $39.00 to $37.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Finally, TD Cowen lowered their price target on Federated Hermes from $36.00 to $34.00 and set a hold rating for the company in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Federated Hermes presently has an average rating of Moderate Buy and a consensus target price of $38.00.

Federated Hermes Trading Up 0.6 %

Shares of FHI stock opened at $33.91 on Wednesday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 1.10 and a beta of 1.17. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $32.64 and a 200 day moving average price of $34.20. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.31.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Research analysts forecast that Federated Hermes will post 3.6 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were paid a $1.31 dividend. This is a positive change from Federated Hermes’s previous None dividend of $1.27. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 7th. Federated Hermes’s payout ratio is currently 35.23%.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 975 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value of $32,175.00. Following the transaction, the vice president now owns 299,572 shares in the company, valued at $9,885,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now directly owns 298,578 shares in the company, valued at approximately $9,384,306.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 975 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value of $32,175.00. Following the completion of the transaction, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after acquiring an additional 307 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Federated Hermes by 216.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 712 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Federated Hermes by 65.7% in the fourth quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $47,000 after purchasing an additional 548 shares during the period. Finally, Mather Group LLC. acquired a new stake in Federated Hermes during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors 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.