Federated Hermes (NYSE:FHI) Price Target Cut to $37.00 by Analysts at Evercore ISI

Federated Hermes (NYSE:FHI) had its price objective decreased by Evercore ISI from $39.00 to $37.00 in a research note released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group boosted their target price on Federated Hermes from $37.00 to $39.00 and gave the stock a neutral rating in a research report on Friday, April 12th. TD Cowen began coverage on Federated Hermes in a report on Thursday, January 4th. They issued a market perform rating and a $32.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $38.29.

Federated Hermes Stock Down 0.2 %

NYSE FHI opened at $32.79 on Wednesday. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $41.41. The stock has a market capitalization of $2.77 billion, a PE ratio of 9.32, a PEG ratio of 0.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 1.89. The business’s 50-day moving average is $35.45 and its 200 day moving average is $34.09.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $396.37 million during the quarter, compared to analyst estimates of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Federated Hermes will post 3.67 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently announced a None dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be issued a $1.31 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 7th. This is an increase from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s payout ratio is 31.82%.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the transaction, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,775 shares of company stock worth $4,032,822. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of Federated Hermes by 87.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock worth $38,601,000 after buying an additional 533,083 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Federated Hermes by 32.2% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 122,796 shares of the company’s stock valued at $4,158,000 after buying an additional 29,930 shares during the period. Graham Capital Management L.P. raised its stake in Federated Hermes by 54.4% in the third quarter. Graham Capital Management L.P. now owns 99,425 shares of the company’s stock worth $3,368,000 after buying an additional 35,032 shares in the last quarter. FMR LLC lifted its holdings in 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 during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Federated Hermes during the 3rd quarter valued at $1,016,000. Institutional investors 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.