Federated Hermes, Inc. (NYSE:FHI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $41.17.

A number of research firms have weighed in on FHI. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Evercore ISI decreased their price objective on Federated Hermes from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada dropped their target price 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.

Federated Hermes Stock Up 4.5 %

Shares of FHI opened at $40.04 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The company has a 50-day simple moving average of $38.60 and a 200-day simple moving average of $39.67. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The firm has a market capitalization of $3.26 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. On average, equities research analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.34 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.40%. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Insider Transactions at Federated Hermes

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 transaction, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kendall Capital Management grew its stake in shares of Federated Hermes by 6.0% during the first quarter. Kendall Capital Management now owns 69,850 shares of the company’s stock valued at $2,848,000 after purchasing an additional 3,925 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Federated Hermes during the first quarter worth $2,584,000. Diversified Trust Co lifted its stake in shares of Federated Hermes by 7.7% during the first quarter. Diversified Trust Co now owns 8,807 shares of the company’s stock valued at $359,000 after acquiring an additional 629 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in Federated Hermes in the first quarter valued at about $2,635,000. Finally, Asset Management One Co. Ltd. acquired a new stake in Federated Hermes in the first quarter worth about $120,000. Institutional investors and hedge funds 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.