Federated Hermes (NYSE:FHI) PT Lowered to $36.00 at Evercore ISI

Federated Hermes (NYSE:FHI) had its price target cut by Evercore ISI from $37.00 to $36.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Federated Hermes from a buy rating to a hold rating in a research report on Wednesday. UBS Group reduced their price objective on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Finally, TD Cowen reduced their price target on Federated Hermes from $34.00 to $33.00 and set a hold rating on the stock in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $37.67.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $33.65 on Thursday. The company’s 50 day simple moving average is $33.75 and its 200 day simple moving average is $34.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $37.10. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, research analysts predict that Federated Hermes will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.31 dividend. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.68%. Federated Hermes’s dividend payout ratio is presently 35.23%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The disclosure for this sale can be found here. Insiders sold 80,896 shares of company stock worth $2,644,911 over the last ninety days. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Federated Hermes by 0.4% during the fourth quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock valued at $3,354,000 after purchasing an additional 366 shares during the period. Parallel Advisors LLC boosted its position in shares of Federated Hermes by 23.4% during the 4th quarter. Parallel Advisors LLC now owns 2,187 shares of the company’s stock worth $74,000 after purchasing an additional 414 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its stake in shares of Federated Hermes by 1.0% in the 1st quarter. Congress Asset Management Co. MA now owns 50,202 shares of the company’s stock valued at $1,813,000 after buying an additional 518 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

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.