Analysts Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $42.00

Shares of Federated Hermes, Inc. (NYSE:FHI) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $42.00.

FHI has been the topic of a number of research reports. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Evercore ISI upped 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. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Royal Bank of Canada upped their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently modified their holdings of FHI. Vanguard Group Inc. grew its stake in shares of Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after buying an additional 45,214 shares during the period. AQR Capital Management LLC grew its stake in Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. increased its holdings 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 valued at $37,555,000 after acquiring an additional 324,958 shares in the last quarter. Millennium Management LLC raised its position in shares of Federated Hermes by 1.1% during the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after purchasing an additional 10,552 shares during the period. Finally, Interval Partners LP lifted its holdings in shares of Federated Hermes by 60.4% in the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,370 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Trading Up 1.0 %

Shares of FHI opened at $40.54 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.09 and a current ratio of 2.75. Federated Hermes has a 52-week low of $31.08 and a 52-week high of $40.65. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.16 and a beta of 1.16. The business’s fifty day moving average is $36.46 and its 200-day moving average is $34.36.

Federated Hermes (NYSE:FHI) last posted 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 net margin of 16.62% and a return on equity of 29.85%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities analysts anticipate that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

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.