Federated Hermes, Inc. (NYSE:FHI) Receives Consensus Rating of “Hold” from Brokerages

Federated Hermes, Inc. (NYSE:FHI) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $55.75.

Several research firms recently weighed in on FHI. TD Cowen decreased their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada lifted their price objective on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the transaction, the chief executive officer owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $216,800.00. Following the completion of the sale, the vice president owned 74,921 shares in the company, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently modified their holdings of FHI. Burney Co. increased its stake in Federated Hermes by 61.8% in the fourth quarter. Burney Co. now owns 218,661 shares of the company’s stock worth $11,386,000 after purchasing an additional 83,529 shares during the period. LSV Asset Management boosted its stake in shares of Federated Hermes by 20.4% during the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after purchasing an additional 489,275 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Federated Hermes by 36.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 116,278 shares of the company’s stock valued at $6,055,000 after purchasing an additional 31,240 shares during the period. Vestcor Inc grew its holdings in shares of Federated Hermes by 32.6% in the fourth quarter. Vestcor Inc now owns 432,900 shares of the company’s stock worth $22,541,000 after purchasing an additional 106,377 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Federated Hermes by 19.4% in the fourth quarter. Brandywine Global Investment Management LLC now owns 177,533 shares of the company’s stock worth $9,244,000 after purchasing an additional 28,854 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Down 0.7%

Shares of NYSE FHI opened at $59.56 on Friday. Federated Hermes has a 1-year low of $46.50 and a 1-year high of $60.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The business’s 50 day moving average is $56.91 and its two-hundred day moving average is $55.82. The stock has a market capitalization of $4.52 billion, a P/E ratio of 11.54, a PEG ratio of 1.62 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $478.96 million during the quarter, compared to analyst estimates of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. As a group, research analysts expect that Federated Hermes will post 5.24 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.38 dividend. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a yield of 2.6%. Federated Hermes’s dividend payout ratio is currently 29.46%.

Federated Hermes Company Profile

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.