Federated Hermes (NYSE:FHI) Price Target Raised to $54.00

Federated Hermes (NYSE:FHI) had its price objective hoisted by TD Cowen from $53.00 to $54.00 in a research report released on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

FHI has been the subject of a number of other reports. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Zacks Research cut Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.20.

Federated Hermes Trading Up 1.8%

NYSE:FHI opened at $54.38 on Wednesday. The company has a market cap of $4.22 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.55 and a beta of 0.75. Federated Hermes has a twelve month low of $35.05 and a twelve month high of $54.48. The business has a 50 day moving average price of $51.44 and a two-hundred day moving average price of $50.91. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company had revenue of $469.45 million for the quarter, compared to the consensus estimate of $442.67 million. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 28.39%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.54, for a total transaction of $728,100.00. Following the completion of the transaction, the chief executive officer owned 157,039 shares of the company’s stock, valued at approximately $7,622,673.06. The trade was a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dolores D. Dudiak sold 999 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total value of $47,822.13. Following the completion of the sale, the vice president directly owned 88,223 shares in the company, valued at $4,223,235.01. This trade represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 21,709 shares of company stock worth $1,049,146. Insiders own 3.80% of the company’s stock.

Institutional Trading of Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in FHI. Burney Co. raised its holdings in Federated Hermes by 11.8% during the 3rd quarter. Burney Co. now owns 135,132 shares of the company’s stock worth $7,017,000 after purchasing an additional 14,253 shares during the last quarter. Paragon Capital Management Ltd bought a new position in Federated Hermes during the second quarter worth $218,000. Inspire Investing LLC acquired a new position in Federated Hermes in the second quarter valued at $895,000. Marshall Financial Group LLC bought a new stake in Federated Hermes during the second quarter valued at $1,012,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Federated Hermes during the 2nd quarter worth about $925,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Company Profile

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.