Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Rating of “Hold” from Analysts

Federated Hermes, Inc. (NYSE:FHI) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $42.50.

FHI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Evercore ISI boosted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Royal Bank Of Canada increased their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, TD Cowen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th.

Federated Hermes Stock Down 0.4%

FHI opened at $46.14 on Monday. The company has a market capitalization of $3.65 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.04 and a quick ratio of 2.35. The firm’s fifty day moving average price is $43.14 and its two-hundred day moving average price is $40.41. Federated Hermes has a fifty-two week low of $31.94 and a fifty-two week high of $46.84.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The business had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Federated Hermes will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. Federated Hermes’s payout ratio is currently 38.31%.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares in the company, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after buying an additional 265,590 shares during the last quarter. FMR LLC boosted its holdings in Federated Hermes by 4.5% in the fourth quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after acquiring an additional 253,553 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Federated Hermes by 249.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock worth $130,446,000 after purchasing an additional 2,284,509 shares during the period. Invesco Ltd. raised its holdings in Federated Hermes by 6.2% during the 1st quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock worth $96,533,000 after purchasing an additional 137,248 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Federated Hermes by 0.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock valued at $77,650,000 after purchasing an additional 16,333 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.