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

Federated Hermes, Inc. (NYSE:FHI) has received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $38.50.

Several research firms recently issued reports on FHI. UBS Group raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada lifted 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. Finally, TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target for the company.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares of the company’s stock, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FHI. Alyeska Investment Group L.P. purchased a new position in Federated Hermes in the first quarter worth approximately $28,723,000. Invesco Ltd. lifted its stake in Federated Hermes by 61.0% in the first quarter. Invesco Ltd. now owns 1,822,046 shares of the company’s stock worth $62,060,000 after acquiring an additional 690,423 shares during the last quarter. Wellington Management Group LLP lifted its stake in Federated Hermes by 59.1% in the fourth 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 during the last quarter. FMR LLC lifted its stake in Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock worth $170,470,000 after acquiring an additional 562,232 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Federated Hermes by 183.5% in the third quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock worth $27,145,000 after acquiring an additional 518,715 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

NYSE:FHI opened at $35.29 on Friday. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $43.64. The company has a market cap of $2.98 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.83 and a beta of 1.12. The company’s 50-day moving average price is $35.68 and its 200-day moving average price is $34.06. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $396.97 million. During the same period last year, the business earned $0.90 earnings per share. Federated Hermes’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Federated Hermes will post 3.73 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is presently 32.84%.

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.