Evercore ISI Raises Federated Hermes (NYSE:FHI) Price Target to $41.00

Federated Hermes (NYSE:FHI - Free Report) had its price target hoisted by Evercore ISI from $38.00 to $41.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

FHI has been the topic of a number of other research reports. Royal Bank of Canada reduced their target price on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $41.00 target price (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Federated Hermes currently has an average rating of "Hold" and an average target price of $41.67.

Federated Hermes Stock Up 2.4 %

Shares of FHI stock traded up $0.97 during mid-day trading on Monday, reaching $41.74. 705,290 shares of the company were exchanged, compared to its average volume of 731,508. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The business's 50 day simple moving average is $38.86 and its 200 day simple moving average is $39.76. The company has a market capitalization of $3.39 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.00 and a beta of 0.84. Federated Hermes has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Research analysts predict that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.26%. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio (DPR) is presently 38.31%.

Insider Activity

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the transaction, the chief executive officer now owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hohimer Wealth Management LLC lifted its position in Federated Hermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock worth $277,000 after purchasing an additional 249 shares during the period. Walleye Capital LLC grew its holdings in Federated Hermes by 4.1% during the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock worth $283,000 after acquiring an additional 269 shares during the period. Amalgamated Bank raised its position in Federated Hermes by 1.0% in the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company's stock worth $1,341,000 after acquiring an additional 313 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Federated Hermes by 1.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company's stock valued at $681,000 after purchasing an additional 317 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Federated Hermes by 11.2% in the 1st quarter. Signaturefd LLC now owns 4,354 shares of the company's stock worth $178,000 after purchasing an additional 439 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

About Federated Hermes

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.