Evercore ISI Has Lowered Expectations for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its target price trimmed by Evercore ISI from $42.00 to $38.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the company. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. Royal Bank of Canada dropped their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.17.

Federated Hermes Stock Up 2.5 %

FHI opened at $37.80 on Friday. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The business has a 50-day moving average of $38.75 and a two-hundred day moving average of $39.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, research analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is 38.87%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

A number of hedge funds have recently bought and sold shares of the business. Quarry LP bought a new position in Federated Hermes during the 4th quarter valued at $37,000. R Squared Ltd bought a new position in shares of Federated Hermes during the fourth quarter worth about $43,000. Sound Income Strategies LLC acquired a new position in Federated Hermes in the fourth quarter worth about $53,000. Neo Ivy Capital Management bought a new stake in Federated Hermes in the third quarter valued at about $60,000. Finally, GAMMA Investing LLC raised its stake in Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock valued at $70,000 after buying an additional 646 shares in the last quarter. Institutional investors and hedge funds 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.