Federated Hermes (NYSE:FHI) Price Target Raised to $38.00

Federated Hermes (NYSE:FHI) had its price target lifted by Evercore ISI from $36.00 to $38.00 in a report published on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

FHI has been the topic of a number of other research reports. TD Cowen lowered their target price on Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a research note on Monday, July 29th. StockNews.com downgraded shares of Federated Hermes from a buy rating to a hold rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a report on Thursday, July 11th. Finally, UBS Group decreased their target price on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $38.00.

Federated Hermes Stock Performance

FHI stock opened at $36.88 on Friday. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.43. The business’s fifty day simple moving average is $34.56 and its two-hundred day simple moving average is $34.05. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 10.48, a PEG 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.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Analysts predict that Federated Hermes will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were given a dividend of $0.31 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

Insider Activity at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the firm’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 completion of the transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC grew its position in shares of Federated Hermes by 607.7% in the 1st 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 last quarter. Mather Group LLC. acquired a new position in Federated Hermes during the second quarter worth approximately $47,000. Hexagon Capital Partners LLC increased its position in Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after buying an additional 317 shares during the period. Neo Ivy Capital Management lifted its stake in Federated Hermes by 637.5% in the fourth quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after buying an additional 1,224 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

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.