Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $49.6667.

FHI has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. Evercore ISI raised their price target on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. Finally, TD Cowen upped their target price on Federated Hermes from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the sale, the chief executive officer directly owned 157,039 shares in the company, valued at approximately $7,622,673.06. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Trading of Federated Hermes

A number of institutional investors have recently made changes to their positions in the business. MAI Capital Management boosted its holdings in Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after acquiring an additional 221 shares in the last quarter. AdvisorNet Financial Inc purchased a new position in shares of Federated Hermes in the 2nd quarter valued at about $44,000. Farther Finance Advisors LLC raised its stake in shares of Federated Hermes by 97.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after buying an additional 430 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Federated Hermes during the second quarter valued at $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Federated Hermes in the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Down 2.3%

Shares of FHI stock opened at $49.23 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. Federated Hermes has a 12-month low of $35.05 and a 12-month high of $54.42. The stock has a market capitalization of $3.82 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.54 and a beta of 0.83. The firm’s 50 day moving average is $51.21 and its 200 day moving average is $47.98.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The company had revenue of $469.45 million for the quarter, compared to analysts’ expectations of $442.67 million. During the same period last year, the firm earned $1.06 EPS. Federated Hermes’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. Federated Hermes’s payout ratio is presently 28.39%.

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.