Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Target Price at $57.40

Federated Hermes, Inc. (NYSE:FHI) has earned an average rating of “Hold” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.40.

A number of equities analysts have commented on the stock. TD Cowen reduced their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. Royal Bank Of Canada increased their target price on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Finally, Evercore restated an “outperform” rating and issued a $65.00 target price on shares of Federated Hermes in a research note on Monday, August 10th.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer owned 151,276 shares of the company’s stock, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently modified their holdings of the stock. Schneider Downs Wealth Management Advisors LP grew its position in Federated Hermes by 3,229.0% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock worth $137,992,000 after purchasing an additional 2,577,442 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Federated Hermes by 29.6% in the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after buying an additional 670,643 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Federated Hermes by 78.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,622 shares of the company’s stock worth $72,618,000 after buying an additional 615,130 shares during the period. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 20.1% during the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock worth $132,024,000 after buying an additional 498,202 shares during the period. Finally, LSV Asset Management grew its holdings 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 buying an additional 489,275 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Trading Up 0.8%

Shares of NYSE:FHI opened at $64.09 on Tuesday. The company has a market capitalization of $4.78 billion, a PE ratio of 11.91, a P/E/G ratio of 1.50 and a beta of 0.65. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. Federated Hermes has a 12-month low of $46.66 and a 12-month high of $67.20. The business’s fifty day simple moving average is $59.25 and its 200-day simple moving average is $56.97.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The firm had revenue of $502.78 million during the quarter, compared to analysts’ expectations of $488.34 million. During the same period in the prior year, the business posted $1.16 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, equities research analysts predict that Federated Hermes will post 5.43 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 7th. Federated Hermes’s dividend payout ratio is currently 28.25%.

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.