Federated Hermes, Inc. (NYSE:FHI) Given Average Rating of “Hold” by Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $55.00.

FHI has been the topic of a number of recent research reports. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada cut their target price on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. TD Cowen cut their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a report on Monday, May 4th.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $59.21 on Monday. The firm’s fifty day simple moving average is $56.46 and its 200-day simple moving average is $55.08. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 2.11 and a beta of 0.65. Federated Hermes has a 12 month low of $41.96 and a 12 month high of $59.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. As a group, equities analysts forecast that Federated Hermes will post 5.1 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 2.6%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio is presently 29.46%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the transaction, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the transaction, the vice president directly owned 74,921 shares in the company, valued at $4,060,718.20. This represents a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors have recently bought and sold shares of the company. Torren Management LLC acquired a new position in Federated Hermes in the 4th quarter valued at $25,000. MAI Capital Management increased its stake in Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after buying an additional 221 shares during the period. Root Financial Partners LLC boosted its position in shares of Federated Hermes by 71.0% during the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after purchasing an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock worth $38,000 after purchasing an additional 401 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Federated Hermes by 145.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock worth $44,000 after purchasing an additional 503 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.