Federated Hermes (NYSE:FHI) PT Raised to $38.00 at Evercore ISI

by · The Markets Daily

Federated Hermes (NYSE:FHI – Get Free Report) had its price objective lifted by research analysts at Evercore ISI from $36.00 to $38.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 3.04% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. TD Cowen dropped their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. UBS Group dropped their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.00.

Check Out Our Latest Stock Report on FHI

Federated Hermes Price Performance

Shares of FHI opened at $36.88 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.43. The firm has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $34.05. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16.

Federated Hermes (NYSE:FHI – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. During the same period last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Federated Hermes will post 3.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently made changes to their positions in FHI. Handelsbanken Fonder AB lifted its holdings in shares of Federated Hermes by 12.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock worth $745,000 after acquiring an additional 2,300 shares during the period. Algert Global LLC increased its position in Federated Hermes by 34.2% during the second quarter. Algert Global LLC now owns 349,802 shares of the company’s stock worth $11,501,000 after purchasing an additional 89,140 shares during the last quarter. Millennium Management LLC raised its stake in Federated Hermes by 1.1% during the second quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after purchasing an additional 10,552 shares during the period. Dark Forest Capital Management LP boosted its holdings in shares of Federated Hermes by 111.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 33,600 shares of the company’s stock valued at $1,105,000 after purchasing an additional 17,701 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Federated Hermes by 88.3% during 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 during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

(Get Free Report)

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.

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