Federated Hermes, Inc. (NYSE:FHI) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $57.40.

FHI has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 target price on shares of Federated Hermes in a report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Federated Hermes from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, September 24th.

Federated Hermes Price Performance

NYSE:FHI opened at $56.07 on Wednesday. Federated Hermes has a 12-month low of $46.66 and a 12-month high of $67.20. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.47 and a beta of 0.66. The stock’s 50 day moving average price is $61.09 and its two-hundred day moving average price is $58.36. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.19 by $0.19. The company had revenue of $502.78 million during the quarter, compared to the consensus estimate of $488.34 million. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts anticipate that Federated Hermes will post 5.55 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 7th. Federated Hermes’s payout ratio is currently 28.25%.

Hedge Funds Weigh In On Federated Hermes

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Federated Hermes by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,409,852 shares of the company’s stock valued at $73,425,000 after purchasing an additional 73,984 shares during the period. First Trust Advisors LP increased its position in Federated Hermes by 5.6% during the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after buying an additional 32,810 shares during the period. Kestra Advisory Services LLC increased its position in Federated Hermes by 6.2% during the 1st quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock worth $27,546,000 after buying an additional 28,278 shares during the period. Vestcor Inc lifted its holdings in shares of Federated Hermes by 32.6% during the fourth quarter. Vestcor Inc now owns 432,900 shares of the company’s stock worth $22,541,000 after buying an additional 106,377 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Federated Hermes by 34.6% during the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock worth $19,130,000 after buying an additional 86,658 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.