Federated Hermes (NYSE:FHI) Given New $48.00 Price Target at Evercore ISI

Federated Hermes (NYSE:FHI) had its price target boosted by Evercore ISI from $46.00 to $48.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently issued reports on FHI. TD Cowen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $54.00 in a research note on Monday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target of $46.00.

Federated Hermes Stock Up 3.5%

Shares of Federated Hermes stock opened at $50.96 on Monday. Federated Hermes has a twelve month low of $31.94 and a twelve month high of $51.15. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The company has a current ratio of 3.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $44.99 and a 200 day moving average price of $41.38.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%. The company had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is 30.16%.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the sale, the vice president owned 316,930 shares in the company, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised 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 worth $35,000 after purchasing an additional 614 shares during the period. Quarry LP bought a new position in shares of Federated Hermes during the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc acquired a new stake in shares of Federated Hermes during the 2nd quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after purchasing an additional 287 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in shares of Federated Hermes in the 1st quarter worth approximately $72,000. 75.94% of the stock is currently owned by 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.