Federated Hermes (NYSE:FHI) Price Target Raised to $38.00

Federated Hermes (NYSE:FHI) had its price objective increased by stock analysts at Evercore ISI from $36.00 to $38.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 3.26% from the company’s current price.

FHI has been the topic of several other reports. UBS Group cut their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. TD Cowen dropped their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.00.

Federated Hermes Stock Up 1.7 %

Shares of NYSE:FHI opened at $36.80 on Friday. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $37.43. The company has a market cap of $3.10 billion, a PE ratio of 10.41, a P/E/G ratio of 1.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock’s 50-day moving average is $34.53 and its 200 day moving average is $34.05.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the previous year, the business earned $0.81 EPS. Federated Hermes’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Federated Hermes will post 3.62 EPS for the current year.

Insider Activity at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Federated Hermes by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after acquiring an additional 45,214 shares in the last quarter. AQR Capital Management LLC raised its stake in 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 last quarter. Wellington Management Group LLP raised its stake 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 valued at $61,395,000 after buying an additional 673,496 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Federated Hermes by 39.5% during 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 last quarter. Finally, Assenagon Asset Management S.A. raised its stake in 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 valued at $37,555,000 after buying an additional 324,958 shares during the last quarter. 75.94% of the stock is owned by 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.