StockNews.com upgraded shares of Federated Hermes (NYSE:FHI – Free Report) from a hold rating to a buy rating in a report published on Friday.
FHI has been the subject of several other reports. TD Cowen decreased their target price on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research note on Monday, July 29th. Evercore ISI upped their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the company an outperform rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Finally, UBS Group cut their price target on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $38.00.
View Our Latest Research Report on Federated Hermes
Federated Hermes Trading Down 1.4 %
Federated Hermes (NYSE:FHI – Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. Federated Hermes’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts expect that Federated Hermes will post 3.62 EPS for the current year.
Federated Hermes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a $0.31 dividend. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is presently 35.23%.
Insiders Place Their Bets
In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Federated Hermes
Several institutional investors and hedge funds have recently modified their holdings of the stock. Diversified Trust Co lifted its stake in shares of Federated Hermes by 13.2% in the third quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock worth $293,000 after buying an additional 928 shares during the last quarter. GAMMA Investing LLC raised its holdings in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares during the period. Handelsbanken Fonder AB raised its holdings in Federated Hermes by 12.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock worth $745,000 after acquiring an additional 2,300 shares during the period. Algert Global LLC lifted its position in Federated Hermes by 34.2% during the 2nd quarter. Algert Global LLC now owns 349,802 shares of the company’s stock worth $11,501,000 after acquiring an additional 89,140 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Federated Hermes by 1.1% during the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock valued at $31,888,000 after acquiring an additional 10,552 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
Federated Hermes Company Profile
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.
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