Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.00.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday. Evercore ISI raised their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price target 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 raised shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $46.00 in a research report on Monday. Finally, StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

Federated Hermes Stock Down 0.4 %

Shares of NYSE FHI opened at $39.71 on Wednesday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a 50-day moving average price of $36.08 and a 200-day moving average price of $34.24. Federated Hermes has a 1 year low of $30.98 and a 1 year high of $40.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, equities research analysts forecast that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

Insider Activity

In other news, VP John B. Fisher sold 79,830 shares of the business’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 value of $2,611,239.30. Following the sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC grew 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 acquiring an additional 711 shares in the last quarter. GAMMA Investing LLC grew its stake in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares in the last quarter. Mather Group LLC. purchased a new position in Federated Hermes during the second quarter valued at approximately $47,000. Hexagon Capital Partners LLC grew its stake in Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after acquiring an additional 317 shares in the last quarter. Finally, UMB Bank n.a. grew its stake 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 acquiring an additional 296 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

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.