Federated Hermes, Inc. (NYSE:FHI) Receives $37.83 Average Target Price from Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $37.83.

Several research analysts have weighed in on the company. TD Cowen reduced their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. UBS Group lowered their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI cut their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a research note on Monday, August 5th.

Federated Hermes Stock Performance

FHI opened at $33.77 on Friday. The stock’s 50 day moving average price is $33.25 and its two-hundred day moving average price is $34.11. The company has a quick ratio of 2.45, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.10. The firm has a market capitalization of $2.84 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17.

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

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is presently 35.23%.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul A. Uhlman sold 994 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. Insiders have sold 82,263 shares of company stock worth $2,690,030 in the last 90 days. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Federated Hermes by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after purchasing an additional 45,214 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Federated Hermes by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,410,128 shares of the company’s stock valued at $81,607,000 after acquiring an additional 49,928 shares during the last quarter. Wellington Management Group LLP increased its holdings in Federated Hermes by 59.1% in the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after acquiring an additional 673,496 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Federated Hermes by 39.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after acquiring an additional 335,737 shares during 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.