Evercore ISI Forecasts Strong Price Appreciation for Federated Hermes (NYSE:FHI) Stock

Federated Hermes (NYSE:FHI) had its price objective upped by research analysts at Evercore ISI from $41.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 4.64% from the stock’s current price.

A number of other equities analysts also recently issued reports on FHI. Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group raised their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Federated Hermes has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Federated Hermes Trading Down 0.2 %

Shares of NYSE:FHI opened at $41.10 on Thursday. The business’s 50-day moving average is $37.02 and its 200 day moving average is $34.52. Federated Hermes has a 1 year low of $31.08 and a 1 year high of $42.56. The firm has a market capitalization of $3.36 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. On average, research analysts predict that Federated Hermes will post 3.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moran Wealth Management LLC lifted its position in Federated Hermes by 3.5% in the third quarter. Moran Wealth Management LLC now owns 70,557 shares of the company’s stock worth $2,594,000 after purchasing an additional 2,386 shares during the period. Ontario Teachers Pension Plan Board raised its stake in Federated Hermes by 13.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 37,144 shares of the company’s stock valued at $1,366,000 after purchasing an additional 4,442 shares during the period. Factorial Partners LLC raised its stake in Federated Hermes by 11.5% during the 3rd quarter. Factorial Partners LLC now owns 160,239 shares of the company’s stock valued at $5,892,000 after purchasing an additional 16,500 shares during the period. Schneider Downs Wealth Management Advisors LP raised its stake in Federated Hermes by 31.4% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 90,914 shares of the company’s stock valued at $3,343,000 after purchasing an additional 21,732 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Federated Hermes by 387.6% in the third quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock worth $5,867,000 after acquiring an additional 126,840 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.