Evercore ISI Boosts Federated Hermes (NYSE:FHI) Price Target to $43.00

Federated Hermes (NYSE:FHI - Free Report) had its price objective upped by Evercore ISI from $41.00 to $43.00 in a research note issued to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on FHI. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, July 11th. UBS Group raised their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. StockNews.com lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, TD Cowen upgraded Federated Hermes from a "hold" rating to a "buy" rating and raised their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Federated Hermes Stock Down 0.9 %

Shares of FHI stock traded down $0.38 during trading hours on Thursday, reaching $41.49. The company had a trading volume of 457,842 shares, compared to its average volume of 718,876. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. Federated Hermes has a twelve month low of $31.08 and a twelve month high of $42.56. The company has a market capitalization of $3.39 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The stock's fifty day simple moving average is $36.87 and its 200 day simple moving average is $34.47.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same quarter last year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Federated Hermes will post 3.83 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.99%. Federated Hermes's payout ratio is 39.87%.

Insider Buying and Selling

In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company's stock, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Dolores D. Dudiak sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company's stock, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Institutional Trading of Federated Hermes

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company's stock valued at $309,826,000 after purchasing an additional 45,214 shares during the period. AQR Capital Management LLC increased its position in shares of Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company's stock valued at $37,555,000 after purchasing an additional 324,958 shares during the period. Millennium Management LLC increased its position in shares of Federated Hermes by 1.1% during the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company's stock valued at $31,888,000 after purchasing an additional 10,552 shares during the period. Finally, Interval Partners LP increased its position in shares of Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company's stock valued at $14,804,000 after purchasing an additional 154,370 shares during the period. Institutional investors own 75.94% of the company's stock.

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.