Federated Hermes (NYSE:FHI) Hits New 52-Week High at $37.31

Federated Hermes, Inc. (NYSE:FHI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $37.31 and last traded at $37.31, with a volume of 77838 shares. The stock had previously closed at $36.71.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen decreased their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. StockNews.com cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Evercore ISI dropped their target price on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.67.

Federated Hermes Stock Up 1.2 %

The stock has a market cap of $3.13 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The company’s 50-day moving average price is $34.22 and its 200 day moving average price is $33.96.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, analysts forecast that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.34%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio is presently 35.23%.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of FHI. UMB Bank n.a. increased its stake in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after acquiring an additional 317 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Federated Hermes by 0.4% in the fourth quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock worth $3,354,000 after acquiring an additional 366 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Federated Hermes by 23.4% in the fourth quarter. Parallel Advisors LLC now owns 2,187 shares of the company’s stock worth $74,000 after acquiring an additional 414 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Federated Hermes by 1.0% in the first quarter. Congress Asset Management Co. MA now owns 50,202 shares of the company’s stock worth $1,813,000 after acquiring an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.