Analysts Set Federated Hermes, Inc. (NYSE:FHI) PT at $42.33

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) has earned a consensus recommendation of "Hold" from the six ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.33.

A number of analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Evercore ISI upped their price target on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. UBS Group increased their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares during the last quarter. Quarry LP purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $37,000. R Squared Ltd purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $43,000. Sound Income Strategies LLC purchased a new position in shares of Federated Hermes during the fourth quarter valued at about $53,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Federated Hermes by 22.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock valued at $63,000 after buying an additional 287 shares during the period. Institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Down 1.1%

Federated Hermes stock traded down $0.45 during midday trading on Friday, hitting $42.11. 629,026 shares of the stock were exchanged, compared to its average volume of 733,652. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92. The business's 50-day moving average price is $40.05 and its 200-day moving average price is $40.11.

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, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The business had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. During the same period in the prior year, the company earned $0.89 earnings per share. Federated Hermes's revenue was up 6.8% compared to the same quarter last year. On average, research analysts expect that Federated Hermes will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a $0.34 dividend. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. Federated Hermes's dividend payout ratio is presently 38.31%.

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.