Federated Hermes (NYSE:FHI) Price Target Lowered to $37.00 at Evercore ISI

Federated Hermes (NYSE:FHI - Free Report) had its price objective lowered by Evercore ISI from $39.00 to $37.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on FHI. JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a report on Wednesday, April 17th. Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a report on Monday, January 29th. UBS Group increased their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a neutral rating in a report on Friday, April 12th. Finally, TD Cowen assumed coverage on Federated Hermes in a report on Thursday, January 4th. They set a market perform rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Federated Hermes presently has an average rating of Moderate Buy and an average target price of $38.29.

Federated Hermes Stock Performance

Shares of FHI stock traded down $0.06 during trading hours on Wednesday, hitting $32.79. The stock had a trading volume of 843,584 shares, compared to its average volume of 788,271. The firm has a market capitalization of $2.77 billion, a PE ratio of 9.32, a PEG ratio of 0.77 and a beta of 1.12. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $41.41. The stock's 50 day moving average is $35.45 and its 200 day moving average is $34.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 1.89.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, research analysts forecast that Federated Hermes will post 3.74 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently announced a None dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a $1.31 dividend. The ex-dividend date is Tuesday, May 7th. This represents a yield of 3.8%. This is an increase from Federated Hermes's previous None dividend of $1.27. Federated Hermes's dividend payout ratio (DPR) is 31.82%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was 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 of the company's stock, valued at $1,769,882.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Paul A. Uhlman sold 13,820 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the transaction, the vice president now owns 276,084 shares in the company, valued at $9,994,240.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard A. Novak sold 908 shares of the firm's stock in a transaction 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 transaction, the insider now owns 49,068 shares of the company's stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,775 shares of company stock valued at $4,032,822. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FHI. Fifth Third Bancorp increased its position in Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company's stock worth $25,000 after purchasing an additional 307 shares in the last quarter. Signaturefd LLC increased its position in Federated Hermes by 69.9% during the 3rd quarter. Signaturefd LLC now owns 834 shares of the company's stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Federated Hermes by 216.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company's stock worth $35,000 after purchasing an additional 712 shares in the last quarter. Neo Ivy Capital Management increased its position in Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company's stock worth $48,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in Federated Hermes during the 1st quarter worth about $76,000. 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.