Federated Hermes, Inc. (NYSE:FHI) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Federated Hermes, Inc. (NYSE:FHI) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $57.80.

FHI has been the topic of several analyst reports. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 9th. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. Evercore reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 price target on shares of Federated Hermes in a report on Monday, August 3rd. Finally, Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th.

Institutional Investors Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in shares of Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after acquiring an additional 32,810 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Federated Hermes by 6.2% during the 1st quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock valued at $27,546,000 after purchasing an additional 28,278 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Federated Hermes by 34.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock valued at $19,130,000 after purchasing an additional 86,658 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Federated Hermes by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock valued at $9,240,000 after purchasing an additional 6,045 shares during the last quarter. Finally, Kendall Capital Management raised its position in Federated Hermes by 7.7% in the 3rd quarter. Kendall Capital Management now owns 131,570 shares of the company’s stock worth $7,417,000 after purchasing an additional 9,460 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 1.3%

NYSE FHI opened at $56.90 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.89 and a current ratio of 2.59. The stock has a 50 day simple moving average of $59.23 and a two-hundred day simple moving average of $58.30. The stock has a market cap of $4.25 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.50 and a beta of 0.66. Federated Hermes has a fifty-two week low of $46.66 and a fifty-two week high of $67.20.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.19. The company had revenue of $502.78 million during 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 was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, analysts forecast that Federated Hermes will post 5.51 earnings per share for the current year.

Federated Hermes Dividend Announcement

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

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.