Federated Hermes, Inc. (NYSE:FHI) Receives $47.00 Average PT from Analysts

Key Points

• Federated Hermes, Inc. has an average analyst rating of "Hold", with five analysts recommending hold and one recommending buy.
• The company's recent quarterly earnings saw an EPS of $1.16, exceeding estimates of $0.99, with a year-over-year revenue growth of 5.5%.
• Federated Hermes recently declared a quarterly dividend of $0.34 per share, equating to an annualized yield of 2.6%.

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) has been given an average recommendation of "Hold" by the six brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.00.

Several research analysts have recently commented on FHI shares. Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. Evercore ISI increased their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada increased their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 14th.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meritage Portfolio Management lifted its stake in Federated Hermes by 100.7% in the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock valued at $936,000 after purchasing an additional 11,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Federated Hermes in the 1st quarter valued at approximately $2,584,000. Ritholtz Wealth Management bought a new position in Federated Hermes in the 1st quarter valued at approximately $1,283,000. LPL Financial LLC lifted its stake in Federated Hermes by 373.9% in the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company's stock valued at $3,729,000 after purchasing an additional 72,173 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Federated Hermes in the 1st quarter valued at approximately $214,000. Institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Performance

FHI stock traded down $0.51 during mid-day trading on Tuesday, hitting $53.60. 482,644 shares of the company were exchanged, compared to its average volume of 762,802. The business has a 50 day simple moving average of $48.76 and a 200-day simple moving average of $43.06. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.16 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.77. Federated Hermes has a 1-year low of $33.29 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. During the same period last year, the firm earned $0.96 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 annualized dividend and a yield of 2.5%. Federated Hermes's dividend payout ratio is presently 30.16%.

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.