The Vanguard Group, Inc. recently announced the acquisition of new stake in Federated Hermes Inc. (NYSE:FHI). The institutional investor has increased its shareholding in the Financial company by 2.49% to 8.27 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 9.29% valued currently at $325.39 million. In addition, Schneider Downs Wealth Management raised its holdings by 1.27 million to 4.5 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.11% or 59301.0 shares – to 2.87 million shares.
With over 2.45 million Federated Hermes Inc. (FHI) shares trading Monday and a closing price of $38.50 on the day, the dollar volume was approximately $94.22 million. The shares have shown a positive half year performance of 8.60% and its price on 03/13/23 lost nearly -0.67%. Currently, there are 85.32M common shares owned by the public and among those 84.83M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for FHI have a consensus price objective of $40.29. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $35.00. The average price target is 7.0% above its recent price level and a downside to the estimated low will see the stock lose -10.0% over that period. But an upside of 14.44% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 354,673 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 389,179 shares.
The top 3 mutual fund holders in Federated Hermes Inc. are iShares Core S&P Mid Cap ETF, iShares Tr. – Select Dividend ETF, and Vanguard Total Stock Market Index. iShares Core S&P Mid Cap ETF owns 2.64 million shares of the company’s stock, all valued at over $103.93 million. The company bought an additional 5988.0 shares recently to bring their total holdings to about 2.97% of the shares outstanding. iShares Tr. – Select Dividend ETF bought 4158.0 shares to see its total holdings expand to 2.62 million shares valued at over $103.03 million and representing 2.94% of the shares outstanding. Vanguard Total Stock Market Index bought 3337.0 shares to bring its total holdings to over 2.57 million shares at a value of $101.1 million. Vanguard Total Stock Market Index now owns shares totaling to 2.89% of the shares outstanding.
Shares of Federated Hermes Inc. (NYSE: FHI) opened at $37.98, down -$0.78 from a prior closing price of $38.76. However, the script later moved the day high at 40.72, down -0.67%. The company’s stock has a 5-day price change of -3.39% and 4.42% over the past three months. FHI shares are trading 6.03% year to date (YTD), with the 12-month market performance up to 23.00% higher. It has a 12-month low price of $27.88 and touched a high of $41.20 over the same period. FHI has an average intraday trading volume of 649.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.80%, -1.07%, and 8.90% respectively.
Institutional ownership of Federated Hermes Inc. (NYSE: FHI) shares accounts for 81.90% of the company’s 85.32M shares outstanding. Mutual fund holders own 34.10%, while other institutional holders and individual stakeholders account for 47.19% and 21.07% respectively.
It has a market capitalization of $3.44B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 14.37, while the earnings-per-share (ttm) stands at $2.68. The company has a PEG of 0.88 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.85% over the week and 2.66% over the month.
Analysts forecast that Federated Hermes Inc. (FHI) will achieve an EPS of $0.69 for the current quarter, $0.78 for the next quarter and $3.6 for 2024. The lowest estimate earnings-per-share for the quarter is $0.55 while analysts give the company a high EPS estimate of $0.75. Comparatively, EPS for the current quarter was $0.61 a year ago. Earnings per share for the fiscal year are expected to decrease by -4.10%, and 11.25% over the next financial year. EPS should grow at an annualized rate of 16.31% over the next five years, compared to -5.90% over the past 5-year period.
Looking at the support for the FHI, a number of firms have released research notes about the stock. Keefe Bruyette stated their Outperform rating for the stock in a research note on June 29, 2022, with the firm’s price target at $32-$40. Citigroup coverage for the Federated Hermes Inc. (FHI) stock in a research note released on April 12, 2022 offered a Sell rating with a price target of $28.50. Citigroup was of a view on March 09, 2022 that the stock is Neutral, while Deutsche Bank gave the stock Buy rating on December 17, 2021, issuing a price target of $35- $45. JP Morgan on their part issued Underweight rating on April 19, 2021.
