Federated Hermes (NYSE:FHI) Stock Gets Price Target Trim from TD Cowen

Federated Hermes (NYSE:FHI) had its price target cut by TD Cowen from $60.00 to $56.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also issued reports on FHI. Wall Street Zen raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Evercore reissued an “outperform” rating and set a $65.00 price objective on shares of Federated Hermes in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 9th. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Friday, August 21st. Finally, Royal Bank Of Canada raised their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.80.

Federated Hermes Stock Performance

Shares of FHI opened at $54.85 on Monday. The business has a 50-day simple moving average of $60.20 and a two-hundred day simple moving average of $58.34. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.45 and a beta of 0.66. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28. Federated Hermes has a 52 week low of $46.66 and a 52 week high of $67.20.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.19. The company had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. On average, analysts expect that Federated Hermes will post 5.54 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 7th. Federated Hermes’s dividend payout ratio is currently 28.25%.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of FHI. First Trust Advisors LP lifted its holdings in shares of Federated Hermes by 5.6% during the first quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after purchasing an additional 32,810 shares during the period. Kestra Advisory Services LLC boosted its holdings in Federated Hermes by 6.2% during the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock worth $27,546,000 after buying an additional 28,278 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Federated Hermes by 34.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock worth $19,130,000 after acquiring an additional 86,658 shares in the last quarter. Principal Financial Group Inc. boosted its position in Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock worth $9,240,000 after purchasing an additional 6,045 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Federated Hermes by 255.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company’s stock valued at $8,204,000 after acquiring an additional 104,017 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.