Federated Hermes (NYSE:FHI) Sets New 12-Month High – What’s Next?

Federated Hermes, Inc. (NYSE:FHI)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $63.99 and last traded at $63.8220, with a volume of 838684 shares traded. The stock had previously closed at $59.96.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FHI shares. Royal Bank Of Canada boosted their target price on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded Federated Hermes from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday. Wall Street Zen raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Saturday. Evercore restated an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target of $56.20.

Federated Hermes Stock Up 6.4%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 2.59. The stock’s 50 day moving average price is $57.94 and its 200-day moving average price is $56.37. The company has a market cap of $4.84 billion, a PE ratio of 11.86, a PEG ratio of 1.62 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19. The company had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a net margin of 21.30% and a return on equity of 24.27%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. On average, analysts predict that Federated Hermes, Inc. will post 5.24 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. Federated Hermes’s dividend payout ratio (DPR) is 28.25%.

Insider Activity

In other news, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president owned 74,921 shares of the company’s stock, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Federated Hermes

A number of institutional investors have recently made changes to their positions in FHI. Rockefeller Capital Management L.P. lifted its position in shares of Federated Hermes by 24.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after purchasing an additional 194 shares during the last quarter. Root Financial Partners LLC grew its stake in Federated Hermes by 71.0% in the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after purchasing an additional 237 shares in the last quarter. RiverFront Investment Group LLC increased its holdings in Federated Hermes by 4.7% in the fourth quarter. RiverFront Investment Group LLC now owns 5,744 shares of the company’s stock valued at $299,000 after buying an additional 256 shares during the last quarter. Advyzon Investment Management LLC raised its stake in Federated Hermes by 6.0% during the fourth quarter. Advyzon Investment Management LLC now owns 4,594 shares of the company’s stock valued at $239,000 after buying an additional 259 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Federated Hermes by 1.7% during the first quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock valued at $1,008,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.