Analysts Set Federated Hermes, Inc. (NYSE:FHI) Target Price at $42.00

Federated Hermes, Inc. (NYSE:FHI) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

A number of research firms have weighed in on FHI. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. UBS Group increased their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Evercore ISI raised their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th.

Federated Hermes Price Performance

Shares of FHI stock opened at $40.43 on Wednesday. The business has a fifty day simple moving average of $36.71 and a 200 day simple moving average of $34.42. The company has a market cap of $3.31 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.17 and a beta of 1.15. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes has a twelve month low of $31.08 and a twelve month high of $40.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. On average, sell-side analysts forecast that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.87%.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after acquiring an additional 711 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares during the period. Mather Group LLC. bought a new stake in Federated Hermes during the 2nd quarter valued at approximately $47,000. Hexagon Capital Partners LLC raised its stake in Federated Hermes by 30.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. Finally, UMB Bank n.a. raised its stake in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares during the period. Institutional investors 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.