Federated Hermes, Inc. (NYSE:FHI) Stock Has Average Target Price of $57.40

Key Points

• Analyst consensus is “Hold” for Federated Hermes, with four hold, two buy, one strong-buy and one sell rating. The average 12-month price target is $57.40, near the stock’s reported $57.44 opening price.
• Federated Hermes exceeded quarterly expectations, reporting $1.38 in EPS versus a $1.19 consensus estimate and $502.78 million in revenue, up 18.3% year over year.
• Institutional investors and hedge funds own 75.94% of the stock, while the company’s quarterly dividend of $0.38 per share implies a 2.6% annualized yield.

Shares of Federated Hermes, Inc. (NYSE:FHI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.40.

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Federated Hermes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $58.00 price target on shares of Federated Hermes in a research report on Monday, August 3rd. Royal Bank Of Canada upped their price objective on Federated Hermes from $54.00 to $57.00 and gave the company a "sector perform" rating in a research note on Thursday, July 2nd. Weiss Ratings cut Federated Hermes from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, September 24th. Finally, Evercore reiterated an "outperform" rating and set a $65.00 target price on shares of Federated Hermes in a research note on Monday, August 10th.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC lifted its stake in shares of Federated Hermes by 71.0% during the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company's stock worth $32,000 after buying an additional 237 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company's stock valued at $45,000 after buying an additional 594 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company's stock valued at $52,000 after buying an additional 194 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Federated Hermes in the 2nd quarter valued at about $85,000. Finally, AdvisorNet Financial Inc raised its holdings in Federated Hermes by 38.4% in the 1st quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company's stock valued at $89,000 after acquiring an additional 434 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Price Performance

Shares of FHI opened at $57.44 on Wednesday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.51 and a beta of 0.65. Federated Hermes has a 1-year low of $46.66 and a 1-year high of $67.20. The company's fifty day simple moving average is $61.17 and its 200 day simple moving average is $58.37. 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 (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm had revenue of $502.78 million during the quarter, compared to analysts' expectations of $488.34 million. During the same quarter last year, the company posted $1.16 earnings per share. The company's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, research analysts forecast that Federated Hermes will post 5.55 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.52 annualized dividend and a yield of 2.6%. Federated Hermes's dividend payout ratio (DPR) is currently 28.25%.

Federated Hermes Company Profile

Federated Hermes, Inc NYSE: FHI is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.

The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.

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