Evercore ISI Cuts Federated Hermes (NYSE:FHI) Price Target to $36.00

Federated Hermes (NYSE:FHI) had its price objective reduced by Evercore ISI from $37.00 to $36.00 in a report issued on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on FHI. StockNews.com downgraded Federated Hermes from a buy rating to a hold rating in a report on Wednesday. TD Cowen reduced their target price on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research note on Monday, July 29th. UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped 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 Thursday, July 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Federated Hermes has an average rating of Hold and an average price target of $37.67.

Federated Hermes Stock Down 2.5 %

Federated Hermes stock opened at $33.65 on Thursday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The firm’s fifty day moving average price is $33.75 and its two-hundred day moving average price is $34.01. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.10. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34.

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

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, 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. Over the last 90 days, insiders have sold 80,896 shares of company stock valued at $2,644,911. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC boosted its holdings in Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares during the period. Mather Group LLC. bought a new position in shares of Federated Hermes in the second quarter worth $47,000. CWM LLC grew its position in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares in the last quarter. UMB Bank n.a. grew its position in shares of Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. Finally, Neo Ivy Capital Management raised its stake in shares of Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after purchasing an additional 1,224 shares during the period. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.