Federated Hermes (NYSE:FHI) Sets New 12-Month High – Here’s Why

Federated Hermes, Inc. (NYSE:FHI) shares hit a new 52-week high during trading on Monday . The company traded as high as $39.03 and last traded at $38.88, with a volume of 180342 shares trading hands. The stock had previously closed at $38.70.

Analyst Upgrades and Downgrades

FHI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada upped their target price on shares of Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Evercore ISI lifted their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, TD Cowen dropped their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Federated Hermes currently has an average rating of “Moderate Buy” and an average target price of $37.80.

Federated Hermes Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a 50-day moving average price of $35.29 and a 200-day moving average price of $34.12.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Federated Hermes, Inc. will post 3.63 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.20%. Federated Hermes’s dividend payout ratio is 35.23%.

Insiders Place Their Bets

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’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 completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock worth $309,826,000 after buying an additional 45,214 shares during the period. AQR Capital Management LLC raised its position in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after buying an additional 1,261,097 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 acquiring an additional 673,496 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Federated Hermes by 39.8% during the 2nd 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. Finally, Millennium Management LLC lifted its position in shares of Federated Hermes by 1.1% during the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after buying an additional 10,552 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Company Profile

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.