Evercore ISI Forecasts Strong Price Appreciation for Federated Hermes (NYSE:FHI) Stock

Federated Hermes (NYSE:FHI) had its price target hoisted by Evercore ISI from $41.00 to $43.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. UBS Group raised their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Federated Hermes Price Performance

FHI traded down $0.08 during trading on Thursday, reaching $41.10. 413,103 shares of the company traded hands, compared to its average volume of 717,466. Federated Hermes has a 12-month low of $31.08 and a 12-month high of $42.56. The firm has a fifty day simple moving average of $37.02 and a 200 day simple moving average of $34.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The company has a market cap of $3.36 billion, a P/E ratio of 13.22, a PEG ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Federated Hermes will post 3.83 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.02%. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Insider Activity

In other news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $7,138,766.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after buying an additional 1,261,097 shares during the last quarter. LSV Asset Management purchased a new stake in Federated Hermes during the 2nd quarter valued at about $11,913,000. Assenagon Asset Management S.A. increased its holdings in shares of Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares during the period. AXA S.A. purchased a new position in shares of Federated Hermes in the second quarter worth about $6,200,000. Finally, Interval Partners LP lifted its holdings in shares of Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,370 shares during the period. Institutional investors and hedge funds 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.