Evercore ISI Lowers Federated Hermes (NYSE:FHI) Price Target to $37.00

Federated Hermes (NYSE:FHI) had its price objective trimmed by Evercore ISI from $39.00 to $37.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on FHI. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, April 17th. TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a market perform rating and a $32.00 price objective on the stock. UBS Group upped their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the company a neutral rating in a report on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has an average rating of Moderate Buy and an average target price of $38.29.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $32.89 on Wednesday. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $40.30. The firm has a market capitalization of $2.78 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 1.89. The company’s fifty day moving average price is $35.35 and its 200 day moving average price is $34.08.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts predict that Federated Hermes will post 3.64 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be given a $1.31 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a yield of 3.8%. This is an increase from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio (DPR) is presently 31.82%.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the transaction, the chief executive officer now owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The disclosure for this sale can be found here. Insiders have sold a total of 113,775 shares of company stock worth $4,032,822 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FHI. Fifth Third Bancorp increased its position in Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Federated Hermes by 30.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after buying an additional 317 shares during the period. Whitener Capital Management Inc. boosted its holdings in Federated Hermes by 3.6% in the third quarter. Whitener Capital Management Inc. now owns 9,450 shares of the company’s stock valued at $320,000 after acquiring an additional 330 shares during the last quarter. Signaturefd LLC grew its position in Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Federated Hermes by 0.4% during the fourth quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock worth $3,354,000 after acquiring an additional 366 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.