Federated Hermes, Inc. (NYSE:FHI) Receives $55.75 Consensus Price Target from Analysts

Federated Hermes, Inc. (NYSE:FHI) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $55.75.

Several equities research analysts have recently weighed in on FHI shares. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore reissued an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research note on Monday, June 8th. TD Cowen reduced their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Monday, May 4th.

Insider Transactions at Federated Hermes

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

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors have recently modified their holdings of FHI. Wedge Capital Management L L P NC boosted its position in Federated Hermes by 8.6% during the second quarter. Wedge Capital Management L L P NC now owns 24,207 shares of the company’s stock worth $1,337,000 after acquiring an additional 1,910 shares during the last quarter. Bill Few Associates Inc. lifted its stake in shares of Federated Hermes by 14.7% during the 2nd quarter. Bill Few Associates Inc. now owns 7,783 shares of the company’s stock worth $430,000 after purchasing an additional 1,000 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Federated Hermes by 23.1% during the first quarter. Pacer Advisors Inc. now owns 10,882 shares of the company’s stock worth $617,000 after purchasing an additional 2,045 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Federated Hermes by 15.6% in the first quarter. Parallel Advisors LLC now owns 15,090 shares of the company’s stock valued at $856,000 after purchasing an additional 2,033 shares during the period. Finally, Cim Investment Management Inc. increased its stake in Federated Hermes by 96.5% in the first quarter. Cim Investment Management Inc. now owns 13,251 shares of the company’s stock valued at $751,000 after purchasing an additional 6,508 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Down 1.1%

NYSE FHI opened at $57.47 on Friday. The business’s fifty day simple moving average is $57.04 and its 200-day simple moving average is $55.93. The company has a quick ratio of 2.73, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.36 billion, a PE ratio of 11.14, a P/E/G ratio of 1.57 and a beta of 0.65. Federated Hermes has a 52 week low of $46.66 and a 52 week high of $60.77.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 EPS. As a group, equities analysts anticipate that Federated Hermes will post 5.24 earnings per share for the current year.

Federated Hermes Increases Dividend

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

About Federated Hermes

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.