Federated Hermes, Inc. (NYSE:FHI) Receives $55.00 Consensus Target Price from Analysts

Shares of Federated Hermes, Inc. (NYSE:FHI) have been given a consensus rating of “Hold” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $55.00.

A number of equities research analysts have commented on the stock. Royal Bank Of Canada dropped their price objective on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Evercore reissued an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a research report on Monday, June 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 74,921 shares in the company, valued at approximately $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. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Federated Hermes by 23.1% in the first quarter. Pacer Advisors Inc. now owns 10,882 shares of the company’s stock valued at $617,000 after purchasing an additional 2,045 shares during the last quarter. Parallel Advisors LLC increased its stake in 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 last quarter. Cim Investment Management Inc. grew its position in shares of Federated Hermes by 96.5% during the first quarter. Cim Investment Management Inc. now owns 13,251 shares of the company’s stock worth $751,000 after acquiring an additional 6,508 shares during the last quarter. Amundi purchased a new position in shares of Federated Hermes during the first quarter worth approximately $232,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Federated Hermes by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,012 shares of the company’s stock worth $171,000 after acquiring an additional 1,205 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 2.3%

Shares of FHI opened at $57.50 on Monday. The stock has a market capitalization of $4.37 billion, a PE ratio of 11.14, a P/E/G ratio of 2.01 and a beta of 0.65. Federated Hermes has a 1 year low of $43.90 and a 1 year high of $60.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. The company’s 50-day simple moving average is $56.55 and its 200-day simple moving average is $55.30.

Federated Hermes (NYSE:FHI) last released its 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. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The firm had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts forecast that Federated Hermes will post 5.1 earnings per share for the current fiscal 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 given a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s payout ratio is currently 29.46%.

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.