Federated Hermes (NYSE:FHI) Given New $38.00 Price Target at Evercore ISI

Federated Hermes (NYSE:FHI) had its price target boosted by Evercore ISI from $36.00 to $38.00 in a research report released on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on FHI. JPMorgan Chase & Co. increased their price target 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. TD Cowen reduced their target price on Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a report on Monday, July 29th. StockNews.com lowered Federated Hermes from a buy rating to a hold rating in a research report on Wednesday, September 4th. Finally, UBS Group dropped their price target on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $38.00.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $36.38 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.43. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.44 and a beta of 1.16. The business has a 50-day moving average of $34.56 and a 200-day moving average of $34.04.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. During the same period in the prior year, the company posted $0.81 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is currently 35.23%.

Insiders Place Their Bets

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after purchasing an additional 45,214 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after buying an additional 1,261,097 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after acquiring an additional 673,496 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Federated Hermes by 39.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after acquiring an additional 335,737 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.