Federated Hermes, Inc. (NYSE:FHI) Receives $38.00 Average Target Price from Analysts

Federated Hermes, Inc. (NYSE:FHI) has earned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.00.

A number of research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. UBS Group increased their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Richard A. Novak sold 908 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The disclosure for this sale can be found here. Insiders have sold a total of 115,435 shares of company stock worth $4,092,831 over the last 90 days. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the period. Signaturefd LLC lifted its position in shares of Federated Hermes by 69.9% during the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after buying an additional 343 shares in the last quarter. Quarry LP bought a new position in shares of Federated Hermes during the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC increased its holdings in Federated Hermes by 216.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after acquiring an additional 712 shares in the last quarter. Finally, Neo Ivy Capital Management raised its stake in Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after acquiring an additional 1,224 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $35.03 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes has a one year low of $30.23 and a one year high of $45.55. The business’s 50 day simple moving average is $35.68 and its two-hundred day simple moving average is $34.03. The stock has a market capitalization of $2.96 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $396.97 million. During the same quarter in the prior year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts forecast that Federated Hermes will post 3.73 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a yield of 3.20%. Federated Hermes’s dividend payout ratio (DPR) is presently 32.84%.

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.