Federated Hermes, Inc. (NYSE:FHI) Given Average Recommendation of “Hold” by Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have received a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.33.

FHI has been the subject of several research reports. Evercore ISI lifted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Royal Bank of Canada upped their target price on shares of Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th.

Federated Hermes Stock Performance

NYSE FHI opened at $42.61 on Thursday. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.00 and a beta of 0.78. The stock has a 50-day moving average of $40.96 and a 200 day moving average of $40.11. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $0.34 dividend. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, May 8th. Federated Hermes’s dividend payout ratio is currently 38.31%.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the transaction, the vice president now owns 316,930 shares in the company, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Federated Hermes by 3.1% during the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after buying an additional 265,590 shares in the last quarter. FMR LLC raised its holdings in shares of Federated Hermes by 4.5% during the 4th quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after purchasing an additional 253,553 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares in the last quarter. Invesco Ltd. raised its position in shares of Federated Hermes by 6.2% in the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock valued at $96,533,000 after purchasing an additional 137,248 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Federated Hermes by 0.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock worth $77,650,000 after acquiring an additional 16,333 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.