Brokerages Set Federated Hermes, Inc. (NYSE:FHI) Price Target at $57.40

Shares of Federated Hermes, Inc. (NYSE:FHI) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $57.40.

A number of research firms have recently weighed in on FHI. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. Evercore reissued an “outperform” rating and issued a $65.00 target price on shares of Federated Hermes in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price target on shares of Federated Hermes in a report on Monday, August 3rd. Royal Bank Of Canada upped their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings raised shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 17th.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC grew its position in shares of Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after purchasing an additional 237 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Federated Hermes by 119.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Federated Hermes by 145.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock worth $44,000 after purchasing an additional 503 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Federated Hermes by 220.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after purchasing an additional 594 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after purchasing an additional 194 shares during the period. 75.94% of the stock is owned by institutional investors.

Federated Hermes Trading Down 2.2%

NYSE:FHI opened at $59.64 on Friday. Federated Hermes has a one year low of $46.66 and a one year high of $67.20. The business has a fifty day moving average price of $61.42 and a 200-day moving average price of $58.25. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.19. The company had revenue of $502.78 million for the quarter, compared to the consensus estimate of $488.34 million. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.Federated Hermes’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. Sell-side analysts forecast that Federated Hermes will post 5.5 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.52 annualized dividend and a yield of 2.5%. Federated Hermes’s dividend payout ratio is currently 28.25%.

Federated Hermes Company Profile

Federated Hermes, Inc (NYSE:FHI) is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.

The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.