Federated Hermes (NYSE:FHI) PT Lowered to $33.00 at TD Cowen

Federated Hermes (NYSE:FHI) had its price objective reduced by TD Cowen from $34.00 to $33.00 in a report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently issued reports on FHI. 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 note on Wednesday, May 1st. UBS Group reduced their target price on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $37.83.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $33.74 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.45. The business’s 50 day simple moving average is $33.16 and its two-hundred day simple moving average is $34.29. The stock has a market capitalization of $2.84 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. Federated Hermes has a one year low of $30.23 and a one year high of $37.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. During the same period in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. Analysts forecast that Federated Hermes will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.68%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s 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 sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s 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 sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 975 shares of the business’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 completion of the sale, 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. Over the last three months, insiders have sold 2,361 shares of company stock valued at $76,360. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC bought a new position in shares of Federated Hermes during the fourth quarter valued at $1,483,000. GSA Capital Partners LLP lifted its holdings in shares of Federated Hermes by 123.8% during the fourth quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock valued at $2,364,000 after purchasing an additional 38,630 shares in the last quarter. Norges Bank bought a new position in shares of Federated Hermes during the fourth quarter valued at $12,474,000. Knights of Columbus Asset Advisors LLC lifted its holdings in Federated Hermes by 32.2% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 122,796 shares of the company’s stock valued at $4,158,000 after acquiring an additional 29,930 shares during the period. Finally, Trexquant Investment LP lifted its holdings in Federated Hermes by 171.3% in the fourth quarter. Trexquant Investment LP now owns 169,696 shares of the company’s stock valued at $5,746,000 after acquiring an additional 107,146 shares during the period. 75.94% of the stock is owned by institutional investors.

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.