Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Recommendation of “Hold” from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has received an average rating of “Hold” from the five research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $38.00.

FHI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. TD Cowen initiated coverage on Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. UBS Group lifted their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada upped their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $35.08 on Friday. The firm’s 50-day simple moving average is $35.68 and its 200 day simple moving average is $34.04. The stock has a market cap of $2.96 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.83 and a beta of 1.12. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $45.55.

Federated Hermes (NYSE:FHI) last released its earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. Equities analysts expect that Federated Hermes will post 3.73 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 annualized dividend and a yield of 3.19%. Federated Hermes’s dividend payout ratio (DPR) is presently 32.84%.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The sale 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 90,745 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the sale, the vice president now directly owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard A. Novak sold 908 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,435 shares of company stock valued at $4,092,831. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Federated Hermes by 3.7% during the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares during the last quarter. Vanguard Group Inc. boosted its stake in Federated Hermes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock worth $314,407,000 after purchasing an additional 73,168 shares during the period. FMR LLC grew its holdings in shares of Federated Hermes by 12.6% during the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after buying an additional 562,232 shares in the last quarter. Schneider Downs Wealth Management Advisors LP grew its stake in shares of Federated Hermes by 0.9% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock worth $107,453,000 after acquiring an additional 27,321 shares in the last quarter. Finally, State Street Corp increased its stake in Federated Hermes by 0.8% in the 1st quarter. State Street Corp now owns 2,898,040 shares of the company’s stock valued at $116,327,000 after buying an additional 24,211 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

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.