Research Analysts Offer Predictions for Federated Hermes, Inc.’s Q3 2024 Earnings (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) – Analysts at Zacks Research decreased their Q3 2024 earnings estimates for shares of Federated Hermes in a report issued on Monday, October 7th. Zacks Research analyst R. Department now expects that the company will earn $0.85 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Federated Hermes’ current full-year earnings is $3.62 per share. Zacks Research also issued estimates for Federated Hermes’ Q3 2026 earnings at $1.02 EPS and FY2026 earnings at $4.04 EPS.

FHI has been the subject of a number of other research reports. Evercore ISI boosted their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. TD Cowen decreased their price target 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 objective on shares of 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, StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Federated Hermes Stock Up 0.4 %

Federated Hermes stock opened at $36.18 on Wednesday. The stock has a 50-day simple moving average of $34.62 and a 200-day simple moving average of $34.05. The company has a market capitalization of $3.04 billion, a P/E ratio of 10.28, a PEG ratio of 1.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.43.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Federated Hermes’s revenue for the quarter was down 7.1% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. boosted its position in shares of Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. GAMMA Investing LLC boosted its holdings in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares in the last quarter. Congress Asset Management Co. MA grew its position in Federated Hermes by 1.0% during the first quarter. Congress Asset Management Co. MA now owns 50,202 shares of the company’s stock worth $1,813,000 after buying an additional 518 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after buying an additional 643 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the business’s 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 transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.70% of the company’s stock.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.43%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio is presently 35.23%.

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.