Federated Hermes, Inc. (NYSE:FHI) Receives $42.00 Average Target Price from Analysts

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $42.00.

A number of research firms have weighed in on FHI. UBS Group raised their price target on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. TD Cowen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating and increased their price target for the company from $35.00 to $46.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a research note on Monday.

Federated Hermes Stock Up 1.5 %

Federated Hermes stock traded up $0.59 during midday trading on Wednesday, reaching $40.30. The stock had a trading volume of 1,345,712 shares, compared to its average volume of 720,169. Federated Hermes has a 1-year low of $31.08 and a 1-year high of $40.36. 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 firm's fifty day simple moving average is $36.08 and its 200-day simple moving average is $34.24. The stock has a market capitalization of $3.33 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter last year, the firm earned $0.86 earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts expect that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

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 paid a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.08%. Federated Hermes's dividend payout ratio (DPR) is currently 35.23%.

Insider Transactions at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the firm's stock in a transaction that occurred on 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 approximately $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company's stock worth $309,826,000 after purchasing an additional 45,214 shares during the period. AQR Capital Management LLC boosted 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 purchasing an additional 1,261,097 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company's stock worth $37,555,000 after buying an additional 324,958 shares during the period. Millennium Management LLC lifted its holdings in Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company's stock valued at $31,888,000 after buying an additional 10,552 shares during the period. Finally, Interval Partners LP boosted 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 in the last quarter. 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.