Federated Hermes (NYSE:FHI) Price Target Cut to $35.00 by Analysts at UBS Group

Federated Hermes (NYSE:FHI) had its target price cut by UBS Group from $36.00 to $35.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Evercore ISI reduced their target price on Federated Hermes from $39.00 to $37.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. TD Cowen reduced their target price on Federated Hermes from $36.00 to $34.00 and set a hold rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $38.00.

Federated Hermes Trading Up 0.9 %

FHI opened at $32.64 on Wednesday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.09 and a beta of 1.17. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $37.31. The stock has a fifty day moving average price of $32.60 and a 200-day moving average price of $34.21.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $400.26 million. During the same period in the prior year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Federated Hermes will post 3.6 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

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

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul A. Uhlman sold 975 shares of the company’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 completion of the sale, 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. In the last 90 days, insiders have sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

A number of large investors have recently bought and sold shares of FHI. Fifth Third Bancorp raised its holdings in Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the period. Headlands Technologies LLC raised 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 purchasing an additional 711 shares during the period. Hexagon Capital Partners LLC raised its holdings in Federated Hermes by 216.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 712 shares during the period. Signaturefd LLC raised its holdings in Federated Hermes by 65.7% in the 4th quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after purchasing an additional 548 shares during the period. Finally, Mather Group LLC. acquired a new position in Federated Hermes in the 2nd quarter worth about $47,000. Institutional investors and hedge funds 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.