Federated Hermes, Inc. (NYSE:FHI) Given Consensus Rating of "Hold" by Analysts

Key Points

• Federated Hermes, Inc. has received a consensus rating of "Hold" from eight analysts, with two analysts giving a buy recommendation and an average 12-month price target of $48.33.
• The company reported earnings of $1.16 per share for the last quarter, exceeding the consensus estimate by $0.17, and experienced a 5.5% year-over-year increase in revenue.
• Federated Hermes declared a quarterly dividend of $0.34 per share, representing an annualized payout of $1.36 and a dividend yield of 2.6%.

Shares of Federated Hermes, Inc. (NYSE:FHI - Get Free Report) have earned an average recommendation of "Hold" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $48.3333.

Several analysts have issued reports on FHI shares. Zacks Research cut Federated Hermes from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. JPMorgan Chase & Co. upped their target price on Federated Hermes from $54.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, October 7th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada increased their price target on Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Federated Hermes in a report on Wednesday, October 8th.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Federated Hermes by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after acquiring an additional 265,590 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Federated Hermes by 249.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock valued at $130,446,000 after acquiring an additional 2,284,509 shares during the period. AQR Capital Management LLC boosted its holdings in Federated Hermes by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company's stock valued at $132,024,000 after acquiring an additional 498,202 shares during the period. Invesco Ltd. boosted its holdings in Federated Hermes by 6.2% during the 1st quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock valued at $96,533,000 after acquiring an additional 137,248 shares during the period. Finally, LSV Asset Management boosted its holdings in Federated Hermes by 77.6% during the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company's stock valued at $87,139,000 after acquiring an additional 859,053 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 0.5%

Shares of NYSE:FHI opened at $52.42 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $52.57 and a two-hundred day moving average of $46.18. The stock has a market cap of $4.07 billion, a P/E ratio of 11.62, a PEG ratio of 0.59 and a beta of 0.80. Federated Hermes has a 52-week low of $35.05 and a 52-week high of $54.42.

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

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes's dividend payout ratio is currently 30.16%.

Federated Hermes Company Profile

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.

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