Analysts Set Federated Hermes, Inc. (NYSE:FHI) Target Price at $38.43

Federated Hermes, Inc. (NYSE:FHIGet Free Report) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $38.43.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. UBS Group started coverage on Federated Hermes in a research report on Friday, January 5th. They set a “neutral” rating and a $35.00 target price for the company. Finally, TD Cowen initiated coverage on Federated Hermes in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock.

Check Out Our Latest Stock Analysis on Federated Hermes

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $35.65 on Tuesday. The stock has a market capitalization of $3.01 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. Federated Hermes has a 52 week low of $30.23 and a 52 week high of $45.55. The stock has a 50 day moving average price of $35.25 and a 200 day moving average price of $33.86.

Federated Hermes (NYSE:FHIGet Free Report) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.12. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm had revenue of $391.50 million during the quarter, compared to analyst estimates of $396.97 million. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts predict that Federated Hermes will post 3.64 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is currently 32.84%.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at $6,441,062.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the sale, the insider now directly owns 49,068 shares in the company, valued at $1,769,882.76. The disclosure for this sale can be found here. Insiders have sold a total of 115,435 shares of company stock worth $4,092,831 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after acquiring an additional 307 shares during the period. Signaturefd LLC grew its holdings in Federated Hermes by 69.9% in the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares during the period. Quarry LP acquired a new position in shares of Federated Hermes during the second quarter valued at about $29,000. Hexagon Capital Partners LLC boosted its holdings in Federated Hermes by 216.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 712 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in Federated Hermes in the second quarter worth about $37,000. 76.65% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

(Get Free Report

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.

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Analyst Recommendations for Federated Hermes (NYSE:FHI)

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