Federated Hermes, Inc. (NYSE:FHI – Get Free Report)’s share price reached a new 52-week high during trading on Thursday. The stock traded as high as $67.38 and last traded at $66.0150, with a volume of 5,672 shares. The stock had previously closed at $65.73.
Analysts Set New Price Targets
FHI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Monday. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Royal Bank Of Canada lifted their price target on Federated Hermes from $60.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday. 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, TD Cowen boosted their price objective on Federated Hermes from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.80.
Read Our Latest Analysis on Federated Hermes
Federated Hermes Price Performance
The firm has a market cap of $4.75 billion, a PE ratio of 11.50, a P/E/G ratio of 1.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.89. The business’s fifty day moving average is $58.55 and its 200-day moving average is $57.54.
Federated Hermes (NYSE:FHI – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.08. Federated Hermes had a net margin of 21.28% and a return on equity of 33.94%. The firm had revenue of $507.33 million for the quarter, compared to analysts’ expectations of $504.91 million. During the same period in the previous year, the company earned $1.34 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Federated Hermes, Inc. will post 5.53 earnings per share for the current fiscal year.
Federated Hermes Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th. Federated Hermes’s payout ratio is 27.44%.
Hedge Funds Weigh In On Federated Hermes
Several institutional investors and hedge funds have recently bought and sold shares of FHI. Root Financial Partners LLC bought a new stake in shares of Federated Hermes in the third quarter valued at $32,000. Gen Wealth Partners Inc bought a new position in shares of Federated Hermes during the 3rd quarter worth $33,000. Richardson Financial Services Inc. grew its stake in shares of Federated Hermes by 125.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock worth $42,000 after acquiring an additional 418 shares during the period. Latitude Advisors LLC bought a new position in shares of Federated Hermes during the 3rd quarter worth $43,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after acquiring an additional 194 shares during the last quarter. 75.94% of the stock is owned by institutional investors.
Federated Hermes Company Profile
Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.
Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.
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