Federated Hermes, Inc. (NYSE:FHI) Receives $42.17 Consensus Price Target from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.17.

Several analysts have recently commented on FHI shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $42.00 target price (down previously from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.

Federated Hermes Trading Down 0.3 %

NYSE FHI opened at $38.14 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The business has a 50 day moving average price of $41.31 and a 200-day moving average price of $37.57. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.99 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.87%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,280 shares of company stock worth $1,185,871. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in shares of Federated Hermes in the second quarter valued at approximately $206,000. Acadian Asset Management LLC boosted its holdings in Federated Hermes by 23.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after purchasing an additional 643 shares during the period. Headlands Technologies LLC grew its position in shares of Federated Hermes by 134.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after purchasing an additional 1,117 shares in the last quarter. American Century Companies Inc. grew its position in shares of Federated Hermes by 112.4% during the 2nd quarter. American Century Companies Inc. now owns 56,333 shares of the company’s stock valued at $1,852,000 after purchasing an additional 29,814 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Federated Hermes in the second quarter worth $120,000. 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.