Federated Hermes (NYSE:FHI) Price Target Raised to $56.00

Federated Hermes (NYSE:FHI) had its price objective raised by JPMorgan Chase & Co. from $54.00 to $56.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other equities analysts also recently issued reports on FHI. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Evercore reiterated an “outperform” rating and set a $65.00 target price on shares of Federated Hermes in a research report on Monday, August 10th. Weiss Ratings raised shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.80.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $65.70 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.89. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.80 and a beta of 0.67. Federated Hermes has a 12 month low of $47.30 and a 12 month high of $67.20. The firm’s fifty day simple moving average is $58.55 and its 200-day simple moving average is $57.54.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. Federated Hermes had a net margin of 21.28% and a return on equity of 33.94%. The business had revenue of $507.33 million for the quarter, compared to the consensus estimate of $504.91 million. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Federated Hermes will post 5.53 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 6th. Federated Hermes’s dividend payout ratio is currently 27.44%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FHI. Root Financial Partners LLC boosted its stake in Federated Hermes by 71.0% in the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after purchasing an additional 237 shares during the period. Gen Wealth Partners Inc bought a new stake in shares of Federated Hermes during the 3rd quarter worth approximately $33,000. Richardson Financial Services Inc. raised its position in Federated Hermes by 125.1% during the third quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock worth $42,000 after acquiring an additional 418 shares in the last quarter. Latitude Advisors LLC acquired a new stake in Federated Hermes in the 3rd quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Federated Hermes by 24.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after buying an additional 194 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.