Federated Hermes (NYSE:FHI) Price Target Cut to $34.00

Federated Hermes (NYSE:FHI) had its price objective lowered by analysts at TD Cowen from $36.00 to $34.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 5.17% from the stock’s previous close.

FHI has been the subject of a number of other research reports. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Evercore ISI cut their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.57.

Federated Hermes Stock Up 0.1 %

NYSE FHI opened at $32.33 on Monday. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.31. The business has a 50 day moving average price of $32.61 and a two-hundred day moving average price of $34.22. The stock has a market cap of $2.72 billion, a PE ratio of 9.18, a P/E/G ratio of 1.10 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The business had revenue of $396.37 million for the quarter, compared to analyst estimates of $400.26 million. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Federated Hermes will post 3.6 EPS for the current fiscal year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the completion of the transaction, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul A. Uhlman sold 994 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. Insiders sold 2,361 shares of company stock worth $76,360 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new stake in shares of Federated Hermes during the first quarter valued at about $29,518,000. Wellington Management Group LLP raised its position 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 buying an additional 673,496 shares in the last quarter. Norges Bank acquired a new stake in shares of Federated Hermes in the 4th quarter worth approximately $12,474,000. Goldman Sachs Group Inc. boosted its holdings in shares of Federated Hermes by 39.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after acquiring an additional 335,737 shares in the last quarter. Finally, Interval Partners LP increased its stake in shares of Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock valued at $14,804,000 after acquiring an additional 154,370 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.