Federated Hermes, Inc. (NYSE:FHI) Receives $38.29 Consensus PT from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $38.29.

Several equities research analysts recently issued reports on the company. Evercore ISI cut their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their target price on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $32.88 on Thursday. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $37.31. The firm has a market capitalization of $2.77 billion, a PE ratio of 9.34, a P/E/G ratio of 1.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. The business’s 50 day moving average price is $32.78 and its 200-day moving average price is $34.25.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The company had revenue of $396.37 million for the quarter, compared to the consensus estimate of $400.26 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Federated Hermes will post 3.6 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a None dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a dividend of $1.31 per share. This is an increase from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date was Tuesday, May 7th. This represents a yield of 3.8%. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

Insider Activity

In other news, VP Paul A. Uhlman sold 975 shares of Federated Hermes stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the completion of the sale, the vice president now owns 299,572 shares of the company’s stock, valued at $9,885,876. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s 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 in the company, valued at $9,384,306.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the transaction, the vice president now owns 299,572 shares in the company, valued at approximately $9,885,876. The disclosure for this sale can be found here. Insiders sold a total of 2,361 shares of company stock valued at $76,360 over the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FHI. Assenagon Asset Management S.A. bought a new position in shares of Federated Hermes during the first quarter valued at approximately $29,518,000. Wellington Management Group LLP lifted its position in Federated Hermes by 59.1% in the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after purchasing an additional 673,496 shares during the period. AQR Capital Management LLC lifted its position in Federated Hermes by 183.5% in the third quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after purchasing an additional 518,715 shares during the period. Norges Bank acquired a new stake in Federated Hermes in the fourth quarter worth approximately $12,474,000. Finally, Goldman Sachs Group Inc. lifted its position in Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after purchasing an additional 335,737 shares during the period. Institutional investors and hedge funds 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.