Federated Hermes (NYSE:FHI) PT Raised to $38.00 at Evercore ISI

Federated Hermes (NYSE:FHI - Free Report) had its target price upped by Evercore ISI from $36.00 to $38.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also issued reports on FHI. StockNews.com lowered shares of Federated Hermes from a buy rating to a hold rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, July 11th. TD Cowen dropped their target price on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a research report on Monday, July 29th. Finally, UBS Group dropped their target price on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $38.00.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded up $0.71 during midday trading on Friday, reaching $36.88. The company's stock had a trading volume of 461,151 shares, compared to its average volume of 721,783. The firm has a market capitalization of $3.10 billion, a PE ratio of 10.47, a P/E/G ratio of 1.44 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average of $34.53 and a 200 day moving average of $34.05. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.43.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million for the quarter, compared to analyst estimates of $400.35 million. During the same quarter last year, the business earned $0.81 earnings per share. The firm's revenue was down 7.1% on a year-over-year basis. On average, equities analysts expect that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, August 8th. This is an increase from Federated Hermes's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 3.36%. Federated Hermes's payout ratio is 35.23%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company's stock valued at $309,826,000 after acquiring an additional 45,214 shares during the period. AQR Capital Management LLC raised 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 valued at $87,866,000 after acquiring an additional 1,261,097 shares during the period. Wellington Management Group LLP raised its stake in shares of Federated Hermes by 59.1% in the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company's stock valued at $61,395,000 after acquiring an additional 673,496 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Federated Hermes by 39.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company's stock valued at $40,116,000 after acquiring an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Federated Hermes by 39.8% in 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 acquiring an additional 324,958 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.