Federated Hermes, Inc. (NYSE:FHI) Receives $42.33 Average PT from Analysts

Federated Hermes, Inc. (NYSE:FHI) has earned an average rating of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $42.33.

A number of equities analysts recently weighed in on FHI shares. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. TD Cowen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Royal Bank of Canada boosted their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Finally, Evercore ISI increased their target price on Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th.

Federated Hermes Trading Down 1.5%

Shares of FHI opened at $42.18 on Thursday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $40.82 and a 200-day simple moving average of $40.13. Federated Hermes has a 1-year low of $31.24 and a 1-year high of $43.92.

Federated Hermes (NYSE:FHI) last posted its earnings results 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. The business had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. Equities analysts forecast that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a dividend of $0.34 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Thursday, May 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.31%.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president now owns 316,930 shares in the company, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock worth $357,178,000 after acquiring an additional 265,590 shares in the last quarter. FMR LLC raised its position in Federated Hermes by 4.5% in the 4th quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after purchasing an additional 253,553 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Federated Hermes by 249.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares in the last quarter. Invesco Ltd. raised its stake in Federated Hermes by 6.2% during the 1st quarter. Invesco Ltd. now owns 2,367,754 shares of the company’s stock worth $96,533,000 after acquiring an additional 137,248 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Federated Hermes by 0.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock valued at $77,650,000 after acquiring an additional 16,333 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.