Federated Hermes, Inc. (NYSE:FHI) Given Average Recommendation of “Hold” by Analysts

Federated Hermes, Inc. (NYSE:FHI) has received a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $47.00.

A number of research firms recently commented on FHI. TD Cowen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Evercore ISI lifted their price objective on Federated Hermes from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $54.00 in a report on Monday, August 4th. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada lifted their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th.

Federated Hermes Stock Performance

Shares of FHI stock opened at $53.1370 on Tuesday. The business’s 50-day moving average price is $48.05 and its 200-day moving average price is $42.80. Federated Hermes has a 12 month low of $33.29 and a 12 month high of $54.16. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.74 and a beta of 0.77. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. The company had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts forecast that Federated Hermes will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, August 8th. Federated Hermes’s payout ratio is presently 30.16%.

Institutional Investors Weigh In On Federated Hermes

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after acquiring an additional 614 shares in the last quarter. Quarry LP bought a new stake in shares of Federated Hermes during the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc bought a new stake in shares of Federated Hermes during the second quarter valued at approximately $44,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Federated Hermes during the second quarter valued at approximately $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Federated Hermes during the second quarter valued at approximately $56,000. 75.94% of the stock is currently owned by 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.