Federated Hermes (NYSE:FHI) Given New $40.00 Price Target at UBS Group

Federated Hermes (NYSE:FHI) had its price target lifted by UBS Group from $39.00 to $40.00 in a report released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research firms also recently commented on FHI. Evercore ISI lifted their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $42.00 price target (down from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Price Performance

Shares of FHI opened at $39.33 on Monday. The company has a 50 day moving average of $40.70 and a two-hundred day moving average of $37.99. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, analysts predict that Federated Hermes will post 4.14 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, February 7th. Federated Hermes’s payout ratio is currently 38.87%.

Insider Activity at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the sale, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % 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 4,454 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.38, for a total transaction of $184,306.52. Following the completion of the sale, the chief executive officer now directly owns 184,642 shares of the company’s stock, valued at approximately $7,640,485.96. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,128 shares of company stock worth $502,042 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several institutional investors have recently modified their holdings of FHI. Handelsbanken Fonder AB lifted its stake in Federated Hermes by 12.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock valued at $745,000 after buying an additional 2,300 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $39,000 after acquiring an additional 349 shares during the last quarter. Diversified Trust Co lifted its position in shares of Federated Hermes by 13.2% in the third quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock valued at $293,000 after acquiring an additional 928 shares in the last quarter. CWM LLC boosted its stake in shares of Federated Hermes by 74.7% in the third quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Federated Hermes by 19.0% during the third quarter. Exchange Traded Concepts LLC now owns 21,680 shares of the company’s stock worth $797,000 after purchasing an additional 3,462 shares in the last quarter. 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.