Federated Hermes (NYSE:FHI) Price Target Raised to $47.00

Federated Hermes (NYSE:FHI) had its target price boosted by JPMorgan Chase & Co. from $46.00 to $47.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also weighed in on FHI. Evercore ISI lowered their price target on shares of 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 reduced their target price on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, TD Cowen reduced their target price on shares of Federated Hermes from $36.00 to $34.00 and set a hold rating on the stock in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $38.00.

Federated Hermes Stock Performance

FHI opened at $33.90 on Thursday. The firm has a market capitalization of $2.85 billion, a PE ratio of 9.63, a PEG ratio of 1.14 and a beta of 1.17. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.31. The firm’s 50-day moving average price is $32.64 and its 200 day moving average price is $34.20. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $396.37 million for the quarter, compared to analyst estimates of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. Federated Hermes’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts expect that Federated Hermes will post 3.6 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were paid a $1.31 dividend. This represents a dividend yield of 3.8%. This is an increase from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date of this dividend was Tuesday, May 7th. Federated Hermes’s payout ratio is 35.23%.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of Federated Hermes by 267.9% in the second quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after purchasing an additional 19,530 shares in the last quarter. CWM LLC grew its holdings in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Federated Hermes in the second quarter valued at approximately $47,000. Comerica Bank grew its holdings in shares of Federated Hermes by 11.9% in the first quarter. Comerica Bank now owns 41,010 shares of the company’s stock valued at $1,481,000 after purchasing an additional 4,346 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Federated Hermes in the first quarter valued at approximately $1,419,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.