Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $38.29.

Several analysts have issued reports on FHI shares. Evercore ISI reduced their price target on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. UBS Group boosted their price target on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th.

Federated Hermes Trading Down 3.7 %

Shares of FHI stock opened at $32.09 on Wednesday. The company has a 50 day moving average price of $35.31 and a 200 day moving average price of $34.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $39.38. The stock has a market capitalization of $2.70 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.93 and a beta of 1.14.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that Federated Hermes will post 3.64 EPS 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. Shareholders of record on Wednesday, May 8th will be given a $1.31 dividend. This is an increase from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date is Tuesday, May 7th. This represents a yield of 3.8%. Federated Hermes’s dividend payout ratio (DPR) is 31.82%.

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 13,820 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total transaction of $500,284.00. Following the sale, the vice president now owns 276,084 shares of the company’s stock, valued at approximately $9,994,240.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at $1,769,882.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,030 shares of company stock valued at $833,153. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently bought and sold shares of FHI. Wellington Management Group LLP lifted its holdings in Federated Hermes by 87.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after buying an additional 533,083 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Federated Hermes by 32.2% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 122,796 shares of the company’s stock worth $4,158,000 after purchasing an additional 29,930 shares during the period. Graham Capital Management L.P. increased its stake in Federated Hermes by 54.4% during the third quarter. Graham Capital Management L.P. now owns 99,425 shares of the company’s stock valued at $3,368,000 after purchasing an additional 35,032 shares during the last quarter. FMR LLC raised its holdings in shares of Federated Hermes by 12.6% during the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after purchasing an additional 562,232 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Federated Hermes in the 3rd quarter valued at about $1,016,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.