TD Cowen Issues Positive Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target boosted by TD Cowen from $51.00 to $53.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday. Evercore ISI increased their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.67.

Federated Hermes Trading Up 0.9%

NYSE:FHI opened at $49.51 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The firm has a 50-day moving average of $51.70 and a 200-day moving average of $47.53. The company has a market cap of $3.84 billion, a PE ratio of 10.98, a PEG ratio of 0.54 and a beta of 0.80. Federated Hermes has a one year low of $35.05 and a one year high of $54.42.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.11 by $0.23. The company had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. As a group, equities research analysts expect that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 28.39%.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 15,000 shares of Federated Hermes stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the transaction, the chief executive officer owned 157,039 shares in the company, valued at $7,622,673.06. This trade represents a 8.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after purchasing an additional 430 shares during the period. AdvisorNet Financial Inc purchased a new position in Federated Hermes in the 2nd quarter worth $44,000. Elevation Point Wealth Partners LLC purchased a new position in Federated Hermes in the 2nd quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Federated Hermes in the 2nd quarter worth $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in 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 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.