Federated Hermes (NYSE:FHI) Hits New 1-Year High on Analyst Upgrade

Federated Hermes, Inc. (NYSE:FHI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $36.00 to $39.00. Royal Bank of Canada currently has a sector perform rating on the stock. Federated Hermes traded as high as $40.36 and last traded at $39.93, with a volume of 220592 shares trading hands. The stock had previously closed at $38.63.

Several other analysts have also recently commented on FHI. Evercore ISI lifted their price target on Federated Hermes from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, July 11th. UBS Group boosted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. TD Cowen raised Federated Hermes from a "hold" rating to a "buy" rating and increased their target price for the stock from $35.00 to $46.00 in a research report on Monday. Finally, StockNews.com raised Federated Hermes from a "hold" rating to a "buy" rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.00.

Insider Buying and Selling at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company's stock, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock worth $87,866,000 after acquiring an additional 1,261,097 shares during the period. LSV Asset Management acquired a new stake in Federated Hermes in the second quarter worth approximately $11,913,000. Assenagon Asset Management S.A. boosted its stake in 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 in the last quarter. AXA S.A. bought a new position in Federated Hermes during the 2nd quarter valued at $6,200,000. 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. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The company has a market cap of $3.29 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.18 and a beta of 1.16. The stock has a 50 day moving average price of $35.84 and a 200 day moving average price of $34.19.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $408.46 million for the quarter, compared to analysts' expectations of $410.26 million. During the same quarter in the previous year, the company posted $0.86 EPS. The business's revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Federated Hermes, Inc. will post 3.68 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.11%. Federated Hermes's dividend payout ratio is currently 42.61%.

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.