Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $42.17

Federated Hermes, Inc. (NYSE:FHI) has been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $42.17.

Several brokerages have recently weighed in on FHI. Evercore ISI set a $44.00 price objective on shares of Federated Hermes in a research report on Monday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Royal Bank of Canada reduced their price objective on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, UBS Group boosted their price target on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $41.16 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $39.12 and its two-hundred day moving average price is $39.52. The company has a market cap of $3.35 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. On average, analysts predict that Federated Hermes will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 38.87%.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Federated Hermes by 24.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after purchasing an additional 152,926 shares during the last quarter. Bank of Montreal Can boosted its stake in Federated Hermes by 14.7% in the third quarter. Bank of Montreal Can now owns 324,605 shares of the company’s stock valued at $12,007,000 after buying an additional 41,610 shares in the last quarter. FMR LLC grew its position in Federated Hermes by 2.5% in the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after acquiring an additional 137,245 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Federated Hermes in the third quarter worth about $1,287,000. Finally, FORA Capital LLC acquired a new stake in shares of Federated Hermes in the 3rd quarter valued at approximately $252,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.