Federated Hermes (NYSE:FHI) Price Target Raised to $47.00

Federated Hermes (NYSE:FHI) had its target price increased by JPMorgan Chase & Co. from $46.00 to $47.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on FHI. Evercore ISI decreased their price target on shares of Federated Hermes from $39.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. TD Cowen lowered their target price on shares of Federated Hermes from $36.00 to $34.00 and set a hold rating for the company in a report on Monday, July 8th. Finally, UBS Group lowered their target price on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $38.00.

Federated Hermes Price Performance

Federated Hermes stock opened at $33.90 on Thursday. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.31. The stock has a market capitalization of $2.85 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.14 and a beta of 1.17. The firm’s 50-day moving average is $32.64 and its two-hundred day moving average is $34.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. During the same period last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that Federated Hermes will post 3.6 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a None dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a dividend of $1.31 per share. This represents a yield of 3.8%. This is a boost from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date was Tuesday, May 7th. Federated Hermes’s payout ratio is 35.23%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 975 shares of Federated Hermes stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the transaction, the vice president now directly owns 299,572 shares of the company’s stock, valued at $9,885,876. The sale was disclosed in a filing with the SEC, which is available at this link. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the transaction, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The disclosure for this sale can be found here. Insiders have sold a total of 2,361 shares of company stock valued at $76,360 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after purchasing an additional 45,214 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Federated Hermes by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,410,128 shares of the company’s stock worth $81,607,000 after purchasing an additional 49,928 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Federated Hermes by 59.1% during the fourth quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after purchasing an additional 673,496 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Federated Hermes by 39.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after purchasing an additional 335,737 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Federated Hermes during the first quarter worth $29,518,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

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.