Wall Street Zen upgraded shares of Federated Hermes (NYSE:FHI – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.
Several other research firms have also recently weighed in on FHI. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price target on shares of Federated Hermes in a research report on Monday, August 3rd. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Friday, August 21st. Evercore reissued an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a research report on Monday, August 10th. Finally, Royal Bank Of Canada raised their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.
Get Our Latest Analysis on Federated Hermes
Federated Hermes Price Performance
Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The firm had revenue of $502.78 million during the quarter, compared to analysts’ expectations of $488.34 million. During the same period in the previous year, the business posted $1.16 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts forecast that Federated Hermes will post 5.5 EPS for the current fiscal year.
Federated Hermes Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s payout ratio is 28.25%.
Institutional Investors Weigh In On Federated Hermes
Several large investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in shares of Federated Hermes by 4,983.5% in the second quarter. California State Teachers Retirement System now owns 4,520,641 shares of the company’s stock valued at $249,630,000 after buying an additional 4,431,714 shares during the last quarter. LSV Asset Management lifted its holdings in Federated Hermes by 20.4% during the 4th quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after purchasing an additional 489,275 shares during the last quarter. Vestcor Inc boosted its position in Federated Hermes by 32.6% during the fourth quarter. Vestcor Inc now owns 432,900 shares of the company’s stock worth $22,541,000 after purchasing an additional 106,377 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Federated Hermes by 255.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company’s stock valued at $8,204,000 after purchasing an additional 104,017 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Federated Hermes by 34.6% in the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock valued at $19,130,000 after purchasing an additional 86,658 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.
Federated Hermes Company Profile
Federated Hermes, Inc (NYSE:FHI) is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.
Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.
The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.
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