Federated Hermes (NYSE:FHI) Price Target Raised to $63.00

Federated Hermes (NYSE:FHI) had its price target lifted by Royal Bank Of Canada from $60.00 to $63.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms have also weighed in on FHI. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Evercore restated an “outperform” rating and set a $65.00 target price on shares of Federated Hermes in a research report on Monday, August 10th. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. TD Cowen lifted their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.80.

Federated Hermes Stock Performance

FHI stock opened at $63.95 on Tuesday. The business’s fifty day moving average is $58.52 and its 200-day moving average is $57.59. The company has a quick ratio of 1.89, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.77 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.67. Federated Hermes has a twelve month low of $47.30 and a twelve month high of $67.38.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.08. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business had revenue of $507.33 million for the quarter, compared to analyst estimates of $504.91 million. During the same period last year, the company earned $1.34 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that Federated Hermes will post 5.56 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Federated Hermes’s dividend payout ratio is 27.44%.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of FHI. Gen Wealth Partners Inc bought a new position in Federated Hermes in the third quarter valued at $33,000. Fulcrum Asset Management LLP increased its stake in Federated Hermes by 369.4% in the 3rd quarter. Fulcrum Asset Management LLP now owns 211,596 shares of the company’s stock valued at $12,171,000 after buying an additional 166,518 shares during the last quarter. StoneX Group Inc. acquired a new stake in Federated Hermes in the 3rd quarter valued at $202,000. Kestra Private Wealth Services LLC increased its stake in Federated Hermes by 2.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 10,096 shares of the company’s stock valued at $569,000 after buying an additional 227 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Federated Hermes by 125.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock worth $42,000 after buying an additional 418 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.