Federated Hermes (NYSE:FHI) Given New $39.00 Price Target at UBS Group

Federated Hermes (NYSE:FHI) had its price objective boosted by UBS Group from $37.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

FHI has been the subject of several other research reports. TD Cowen assumed coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a market perform rating and a $32.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an overweight rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada raised their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $38.00.

Federated Hermes Stock Down 2.0 %

NYSE:FHI opened at $35.03 on Friday. The firm’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $34.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes has a one year low of $30.23 and a one year high of $45.55. The company has a market cap of $2.96 billion, a PE ratio of 10.27, a P/E/G ratio of 0.85 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last posted its earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Federated Hermes will post 3.73 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.20%. Federated Hermes’s dividend payout ratio is currently 32.84%.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard A. Novak sold 908 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the sale, the insider now owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock worth $4,092,831 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of FHI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Federated Hermes by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock valued at $1,209,000 after purchasing an additional 3,384 shares in the last quarter. BlackRock Inc. boosted its holdings in Federated Hermes by 3.7% during the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Federated Hermes by 3.0% during the 1st quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock worth $1,755,000 after acquiring an additional 1,490 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Federated Hermes by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock worth $76,638,000 after acquiring an additional 40,797 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Federated Hermes by 313.0% during the 1st quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock worth $1,671,000 after acquiring an additional 37,140 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

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.