Analysts Offer Predictions for Federated Hermes, Inc.’s Q3 2024 Earnings (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of Federated Hermes in a research note issued to investors on Monday, October 7th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.85 per share for the quarter, down from their previous forecast of $0.86. The consensus estimate for Federated Hermes’ current full-year earnings is $3.62 per share. Zacks Research also issued estimates for Federated Hermes’ Q3 2026 earnings at $1.02 EPS and FY2026 earnings at $4.04 EPS.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same period last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis.

FHI has been the topic of a number of other research reports. TD Cowen reduced their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. UBS Group dropped their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Evercore ISI lifted their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Federated Hermes Trading Down 0.5 %

FHI opened at $35.98 on Wednesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The company’s 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $34.06. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s payout ratio is 35.23%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently bought and sold shares of FHI. AQR Capital Management LLC boosted its stake in shares of Federated Hermes by 88.3% in the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the period. Wellington Management Group LLP lifted its holdings in Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock worth $61,395,000 after buying an additional 673,496 shares in the last quarter. LSV Asset Management acquired a new stake in Federated Hermes during the 2nd quarter worth approximately $11,913,000. Goldman Sachs Group Inc. boosted its position in Federated Hermes by 39.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after buying an additional 335,737 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Federated Hermes by 39.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after acquiring an additional 324,958 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.