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

Federated Hermes, Inc. (NYSE:FHI) has received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.00.

Several equities research analysts recently issued reports on FHI shares. Evercore ISI dropped their price target on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. UBS Group dropped their target price on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. TD Cowen decreased their price target on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the completion of the transaction, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the transaction, the vice president now owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the sale, the vice president now owns 299,572 shares in the company, valued at $9,885,876. The disclosure for this sale can be found here. Insiders sold 2,361 shares of company stock valued at $76,360 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FHI. Vanguard Group Inc. boosted its stake in Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after purchasing an additional 45,214 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Federated Hermes by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,410,128 shares of the company’s stock valued at $81,607,000 after buying an additional 49,928 shares in the last quarter. Wellington Management Group LLP grew its holdings in Federated Hermes by 59.1% during 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 period. Goldman Sachs Group Inc. raised its position in Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after acquiring an additional 335,737 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Price Performance

FHI opened at $35.06 on Monday. The company has a market capitalization of $2.95 billion, a P/E ratio of 9.96, a PEG ratio of 1.35 and a beta of 1.17. The company has a 50-day moving average of $33.02 and a 200-day moving average of $34.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. During the same period in the previous year, the company earned $0.81 earnings per share. Federated Hermes’s quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts expect that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, August 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

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.