Federated Hermes (NYSE:FHI) Hits New 1-Year High Following Analyst Upgrade

Federated Hermes, Inc. (NYSE:FHI) shares reached a new 52-week high during trading on Monday after Royal Bank of Canada raised their price target on the stock from $36.00 to $39.00. Royal Bank of Canada currently has a sector perform rating on the stock. Federated Hermes traded as high as $40.36 and last traded at $39.93, with a volume of 220592 shares changing hands. The stock had previously closed at $38.63.

A number of other research firms have also issued reports on FHI. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $46.00 in a research report on Monday. Evercore ISI boosted their price target on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group raised their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. 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 note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Federated Hermes currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FHI. SG Americas Securities LLC grew its holdings in Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock worth $882,000 after acquiring an additional 19,530 shares in the last quarter. Tidal Investments LLC acquired a new position in Federated Hermes during the first quarter worth about $1,419,000. Ontario Teachers Pension Plan Board grew its stake in shares of Federated Hermes by 103.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock worth $2,121,000 after purchasing an additional 29,793 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Federated Hermes in the first quarter valued at $1,542,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after purchasing an additional 324,958 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Down 0.4 %

The company has a fifty day simple moving average of $36.08 and a 200-day simple moving average of $34.24. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. On average, research analysts forecast that Federated Hermes, Inc. will post 3.68 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.12%. Federated Hermes’s dividend payout ratio is 35.23%.

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.