Federated Hermes (NYSE:FHI) Hits New 52-Week High – What’s Next?

Federated Hermes, Inc. (NYSE:FHI)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $60.96 and last traded at $60.6050, with a volume of 62398 shares traded. The stock had previously closed at $60.53.

Analysts Set New Price Targets

FHI has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Friday, July 17th. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada boosted their price target on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. Finally, Evercore reiterated an “outperform” rating and issued a $59.00 price objective on shares of Federated Hermes in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.75.

Federated Hermes Stock Performance

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 has a market capitalization of $4.53 billion, a PE ratio of 11.56, a PEG ratio of 1.62 and a beta of 0.65. The business’s 50-day moving average is $57.65 and its 200-day moving average is $56.23.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.19. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. Federated Hermes’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, research analysts anticipate that Federated Hermes, Inc. will post 5.24 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is presently 29.46%.

Insider Activity

In other news, VP Bryan M. Burke sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was 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 approximately $4,060,718.20. This represents a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 151,276 shares in the company, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Institutional Trading of Federated Hermes

Large investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its stake 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. raised its holdings in Federated Hermes by 14.7% during the 2nd quarter. Bill Few Associates Inc. now owns 7,783 shares of the company’s stock valued at $430,000 after buying an additional 1,000 shares during the period. Pacer Advisors Inc. lifted its position in Federated Hermes by 23.1% in the first quarter. Pacer Advisors Inc. now owns 10,882 shares of the company’s stock worth $617,000 after buying an additional 2,045 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Federated Hermes by 15.6% during the first quarter. Parallel Advisors LLC now owns 15,090 shares of the company’s stock valued at $856,000 after buying an additional 2,033 shares during the period. Finally, Cim Investment Management Inc. lifted its stake in shares of Federated Hermes by 96.5% during the 1st 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. 75.94% of the stock is currently owned by institutional investors.

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.