Federated Hermes, Inc. (NYSE:FHI) Stock Has Average Target Price of $57.40 According to Brokerages

Federated Hermes, Inc. (NYSE:FHI) has been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $57.40.

Several equities analysts have weighed in on FHI shares. Evercore restated an “outperform” rating and set a $65.00 target price on shares of Federated Hermes in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. Weiss Ratings downgraded Federated Hermes from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, September 24th. Royal Bank Of Canada boosted their target price on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Saturday, September 12th.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cim Investment Management Inc. increased its stake in Federated Hermes by 7.4% during the second quarter. Cim Investment Management Inc. now owns 14,234 shares of the company’s stock valued at $786,000 after acquiring an additional 983 shares during the period. QRG Capital Management Inc. increased its stake in shares of Federated Hermes by 15.1% in the 2nd quarter. QRG Capital Management Inc. now owns 49,107 shares of the company’s stock valued at $2,712,000 after buying an additional 6,424 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Federated Hermes by 1.1% in the second quarter. Sequoia Financial Advisors LLC now owns 38,627 shares of the company’s stock valued at $2,133,000 after buying an additional 438 shares during the period. NorthRock Partners LLC bought a new position in Federated Hermes during the second quarter worth about $265,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Federated Hermes in the second quarter worth $85,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Stock Performance

FHI stock opened at $56.07 on Wednesday. The firm has a 50 day moving average of $61.09 and a two-hundred day moving average of $58.35. Federated Hermes has a 12 month low of $46.66 and a 12 month high of $67.20. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.47 and a beta of 0.66. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. The business had revenue of $502.78 million for the quarter, compared to the consensus estimate of $488.34 million. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. Federated Hermes’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. As a group, equities analysts anticipate that Federated Hermes will post 5.55 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 7th. Federated Hermes’s payout ratio is presently 28.25%.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.