Federated Hermes (NYSE:FHI) Reaches New 1-Year High Following Analyst Upgrade

Federated Hermes, Inc. (NYSE:FHI) shares hit a new 52-week high on Friday after Evercore ISI raised their price target on the stock from $48.00 to $55.00. Evercore ISI currently has an outperform rating on the stock. Federated Hermes traded as high as $55.82 and last traded at $53.25, with a volume of 2492 shares trading hands. The stock had previously closed at $53.55.

A number of other equities analysts have also commented on FHI. TD Cowen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. raised shares of Federated Hermes from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.17.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock worth $35,000 after purchasing an additional 614 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Federated Hermes in the 2nd quarter worth about $44,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Federated Hermes in the 2nd quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Federated Hermes in the 2nd quarter worth about $56,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Down 1.5%

The company’s fifty day moving average price is $49.90 and its two-hundred day moving average price is $43.66. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.09 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.6%. Federated Hermes’s dividend payout ratio is 30.16%.

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.