Evercore ISI Issues Positive Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target lifted by Evercore ISI from $41.00 to $43.00 in a research report sent to investors on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

FHI has been the subject of several other research reports. Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. UBS Group upped their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Federated Hermes Trading Down 0.2 %

Shares of NYSE:FHI traded down $0.08 on Thursday, reaching $41.10. 413,103 shares of the company traded hands, compared to its average volume of 717,466. The stock has a market capitalization of $3.36 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The business’s 50-day simple moving average is $37.02 and its 200 day simple moving average is $34.52. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes has a 52 week low of $31.08 and a 52 week high of $42.56.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, equities analysts anticipate that Federated Hermes will post 3.83 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Activity

In related news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the transaction, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC grew its holdings in Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares during the period. GAMMA Investing LLC increased its holdings in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares in the last quarter. Mather Group LLC. bought a new stake in Federated Hermes during the 2nd quarter worth approximately $47,000. UMB Bank n.a. lifted its holdings in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. Finally, CWM LLC lifted its holdings in Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.