Evercore ISI Increases Federated Hermes (NYSE:FHI) Price Target to $38.00

Federated Hermes (NYSE:FHI) had its price objective hoisted by Evercore ISI from $36.00 to $38.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research 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 report on Wednesday, September 4th. UBS Group dropped their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price 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. Finally, TD Cowen dropped their price target on Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes presently has an average rating of Moderate Buy and an average price target of $38.00.

Federated Hermes Stock Performance

Shares of FHI stock opened at $36.38 on Friday. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $37.43. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.06 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The business has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $34.04.

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

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is currently 35.23%.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC boosted its position in Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after acquiring an additional 711 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Federated Hermes in the second quarter valued at $47,000. CWM LLC increased its stake in 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 during the last quarter. Finally, UMB Bank n.a. lifted its position in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Company Profile

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.