Federated Hermes, Inc. (NYSE:FHI – Get Free Report)’s share price reached a new 52-week high on Monday . The stock traded as high as $59.83 and last traded at $59.6590, with a volume of 1486720 shares changing hands. The stock had previously closed at $59.07.
Analyst Ratings Changes
A number of research analysts recently issued reports on FHI shares. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen decreased their price objective on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada cut their target price on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and a consensus price target of $55.00.
Read Our Latest Report on Federated Hermes
Federated Hermes Trading Up 0.7%
Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $478.96 million for the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. Analysts predict that Federated Hermes, Inc. will post 5.1 earnings per share for the current fiscal year.
Federated Hermes Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.6%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is presently 29.46%.
Insiders Place Their Bets
In other Federated Hermes news, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the transaction, the vice president owned 74,921 shares in the company, valued at approximately $4,060,718.20. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This trade represents a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Federated Hermes
Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of Federated Hermes by 23.1% during the 1st quarter. Pacer Advisors Inc. now owns 10,882 shares of the company’s stock worth $617,000 after buying an additional 2,045 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Federated Hermes by 15.6% in the first quarter. Parallel Advisors LLC now owns 15,090 shares of the company’s stock valued at $856,000 after buying an additional 2,033 shares in the last quarter. Cim Investment Management Inc. boosted its stake in shares of Federated Hermes by 96.5% in the first quarter. Cim Investment Management Inc. now owns 13,251 shares of the company’s stock valued at $751,000 after buying an additional 6,508 shares in the last quarter. Amundi acquired a new position in Federated Hermes during the first quarter worth $232,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Federated Hermes by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,012 shares of the company’s stock worth $171,000 after acquiring an additional 1,205 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.
About Federated Hermes
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.
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