Shares of Federated Hermes, Inc. (NYSE:FHI – Get Free Report) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $43.33.
A number of brokerages have issued reports on FHI. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upped their target price on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.
Read Our Latest Analysis on Federated Hermes
Federated Hermes Stock Performance
Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the business posted $0.86 earnings per share. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Federated Hermes will post 3.88 earnings per share for the current year.
Federated Hermes Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio is presently 39.87%.
Insider Transactions at Federated Hermes
In related news, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at $2,232,620.39. This represents a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 4,454 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total transaction of $184,306.52. Following the completion of the sale, the chief executive officer now owns 184,642 shares in the company, valued at $7,640,485.96. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Federated Hermes
A number of institutional investors and hedge funds have recently bought and sold shares of FHI. GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares in the last quarter. UMB Bank n.a. boosted its position in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares during the period. CWM LLC grew its holdings in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after acquiring an additional 1,311 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Federated Hermes in the 3rd quarter valued at approximately $60,000. Finally, Headlands Technologies LLC raised its stake in shares of Federated Hermes by 134.9% during the second quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after acquiring an additional 1,117 shares during the last quarter. Institutional investors and hedge funds 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.
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