Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $38.00

Federated Hermes, Inc. (NYSE:FHI) has received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $38.00.

A number of research firms have issued reports on FHI. UBS Group cut their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI reduced their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, TD Cowen cut their price target on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 8th.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $35.06 on Monday. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $33.02 and a 200 day simple moving average of $34.28. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.10. The company has a market cap of $2.95 billion, a PE ratio of 9.96, a P/E/G ratio of 1.36 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a return on equity of 27.91% and a net margin of 15.90%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, sell-side analysts anticipate that Federated Hermes will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.31 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.24 annualized dividend and a yield of 3.54%. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares in the company, valued at $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now directly owns 298,578 shares in the company, valued at $9,384,306.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul A. Uhlman sold 975 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after acquiring an additional 307 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Federated Hermes by 216.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock valued at $35,000 after purchasing an additional 712 shares during the last quarter. Signaturefd LLC boosted its holdings in Federated Hermes by 65.7% during the fourth quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after buying an additional 548 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Federated Hermes in the second quarter worth approximately $47,000. 75.94% of the stock is owned by institutional investors and hedge funds.

About Federated Hermes

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.