Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.00.

Several analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. 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 report on Thursday, July 11th. Evercore ISI cut their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen reduced their price objective on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 8th.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $35.06 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. The business’s fifty day moving average price is $33.02 and its two-hundred day moving average price is $34.27. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.10. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. The company had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. As a group, analysts predict that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.54%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

Insider Activity

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

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FHI. Vanguard Group Inc. boosted its position in shares of Federated Hermes by 0.8% during the third quarter. Vanguard Group Inc. now owns 8,568,361 shares of the company’s stock worth $290,210,000 after purchasing an additional 68,974 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Federated Hermes during the fourth quarter worth about $237,000. SG Americas Securities LLC bought a new position in Federated Hermes during the fourth quarter worth about $128,000. Legato Capital Management LLC grew its stake in Federated Hermes by 4.4% in the fourth quarter. Legato Capital Management LLC now owns 36,322 shares of the company’s stock valued at $1,230,000 after acquiring an additional 1,534 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Federated Hermes by 48.2% in the fourth quarter. Raymond James & Associates now owns 34,781 shares of the company’s stock worth $1,178,000 after acquiring an additional 11,306 shares in the last quarter. 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.