Federated Hermes, Inc. (NYSE:FHI) Receives $42.00 Average Price Target from Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $42.00.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Royal Bank of Canada lifted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Evercore ISI lifted their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th.

Federated Hermes Stock Performance

NYSE FHI opened at $40.43 on Wednesday. The stock has a market capitalization of $3.31 billion, a PE ratio of 13.00, a P/E/G ratio of 1.17 and a beta of 1.15. The business has a 50 day simple moving average of $36.71 and a two-hundred day simple moving average of $34.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes has a 1-year low of $31.08 and a 1-year high of $40.65.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. On average, research analysts predict that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at $3,083,018.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of Federated Hermes by 387.6% in the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock worth $5,867,000 after acquiring an additional 126,840 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Federated Hermes in the 3rd quarter worth $214,000. State of New Jersey Common Pension Fund D raised its position in shares of Federated Hermes by 1.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,530 shares of the company’s stock worth $2,152,000 after acquiring an additional 967 shares in the last quarter. Meritage Portfolio Management raised its position in shares of Federated Hermes by 9.3% in the 3rd quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock worth $374,000 after acquiring an additional 870 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Federated Hermes in the 3rd quarter worth $1,317,000. 75.94% of the stock is owned by institutional investors.

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.