Federated Hermes, Inc. (NYSE:FHI) Given Average Rating of “Hold” by Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned an average recommendation 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 recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $42.33.

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Evercore ISI raised their price target on Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, April 28th.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the transaction, the vice president now owns 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after buying an additional 614 shares during the last quarter. Quarry LP bought a new position in Federated Hermes in the 4th quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. boosted its stake in Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Federated Hermes in the 1st quarter worth $72,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Federated Hermes in the 4th quarter worth $73,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

Shares of FHI stock opened at $42.35 on Thursday. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The firm has a market capitalization of $3.35 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $40.56 and a two-hundred day simple moving average of $40.15.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Analysts forecast that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s dividend payout ratio (DPR) is 38.31%.

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.