Analysts Set Federated Hermes, Inc. (NYSE:FHI) Target Price at $38.00

Shares of Federated Hermes, Inc. (NYSE:FHI - Get Free Report) have been given an average recommendation of "Hold" by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $38.00.

FHI has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Monday, January 29th. UBS Group raised their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, January 18th. Finally, TD Cowen began coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a "market perform" rating and a $32.00 price target for the company.

Federated Hermes Price Performance

Shares of FHI stock traded down $0.84 during mid-day trading on Friday, hitting $35.73. 725,406 shares of the stock were exchanged, compared to its average volume of 802,230. The firm has a fifty day moving average of $35.70 and a 200 day moving average of $34.02. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $45.55. The company has a market cap of $3.02 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.12.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Research analysts anticipate that Federated Hermes will post 3.73 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a yield of 3.13%. Federated Hermes's dividend payout ratio (DPR) is presently 32.84%.

Insider Activity at Federated Hermes

In related news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the sale, the chief executive officer now owns 178,176 shares of the company's stock, valued at approximately $6,441,062.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,435 shares of company stock worth $4,092,831. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Federated Hermes by 87.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company's stock valued at $38,601,000 after buying an additional 533,083 shares during the period. Graham Capital Management L.P. lifted its position in shares of Federated Hermes by 54.4% during the 3rd quarter. Graham Capital Management L.P. now owns 99,425 shares of the company's stock worth $3,368,000 after purchasing an additional 35,032 shares during the last quarter. FMR LLC lifted its position in shares of Federated Hermes by 12.6% during the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company's stock worth $170,470,000 after purchasing an additional 562,232 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Federated Hermes during the 3rd quarter worth $1,016,000. Finally, Legato Capital Management LLC lifted its position in shares of Federated Hermes by 111.7% during the 3rd quarter. Legato Capital Management LLC now owns 34,788 shares of the company's stock worth $1,178,000 after purchasing an additional 18,355 shares during the last quarter. Hedge funds and other 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.