Federated Hermes (NYSE:FHI) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of Federated Hermes (NYSE:FHI - Free Report) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat reports. The firm currently has $46.00 target price on the stock, up from their previous target price of $35.00.

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

Federated Hermes Stock Performance

Shares of NYSE FHI traded up $1.22 during mid-day trading on Monday, reaching $39.86. 1,267,352 shares of the company's stock were exchanged, compared to its average volume of 714,515. The firm has a 50-day moving average price of $35.84 and a two-hundred day moving average price of $34.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Federated Hermes has a 52 week low of $30.98 and a 52 week high of $40.36.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 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 business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Analysts predict that Federated Hermes will post 3.68 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. Federated Hermes's dividend payout ratio (DPR) is 42.61%.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FHI. Headlands Technologies LLC boosted its stake in Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company's stock valued at $30,000 after buying an additional 711 shares during the period. GAMMA Investing LLC boosted its position in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company's stock valued at $39,000 after acquiring an additional 349 shares during the last quarter. Mather Group LLC. bought a new position in shares of Federated Hermes in the second quarter worth approximately $47,000. Hexagon Capital Partners LLC raised its stake in Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company's stock valued at $49,000 after purchasing an additional 317 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company's stock valued at $47,000 after purchasing an additional 296 shares during 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.