Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $42.33

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.33.

Several analysts recently weighed in on FHI shares. StockNews.com raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $41.00 price target (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. UBS Group lifted their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock worth $35,000 after acquiring an additional 614 shares during the last quarter. Quarry LP acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $43,000. Sound Income Strategies LLC acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $53,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after buying an additional 287 shares during the period. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

FHI opened at $42.87 on Friday. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.00 and a beta of 0.77. The business has a 50 day moving average of $39.87 and a 200-day moving average of $40.06. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.34 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. Federated Hermes’s dividend payout ratio (DPR) is presently 38.31%.

Federated Hermes Company Profile

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.