Federated Hermes (NYSE:FHI) Hits New 1-Year High - Here's Why

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.18 and last traded at $44.13, with a volume of 55193 shares trading hands. The stock had previously closed at $43.49.

Analysts Set New Price Targets

A number of research analysts recently commented on FHI shares. Royal Bank Of Canada boosted their price target on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Evercore ISI boosted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.33.

Federated Hermes Price Performance

The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average price is $41.64 and its 200-day moving average price is $40.14. The stock has a market capitalization of $3.48 billion, a PE ratio of 12.41, a PEG ratio of 0.82 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities analysts forecast that Federated Hermes, Inc. 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. Investors of record on Thursday, May 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend payout ratio is presently 38.31%.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president now directly owns 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently bought and sold shares of FHI. Bayforest Capital Ltd purchased a new stake in shares of Federated Hermes during the 1st quarter worth $540,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Federated Hermes by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company's stock worth $9,769,000 after purchasing an additional 24,960 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Federated Hermes during the first quarter valued at about $14,048,000. United Services Automobile Association purchased a new stake in shares of Federated Hermes during the first quarter valued at about $220,000. Finally, Jones Financial Companies Lllp grew its position in shares of Federated Hermes by 236.0% in the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company's stock worth $362,000 after buying an additional 6,244 shares during the last quarter. Institutional investors own 75.94% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.