TD Cowen Issues Positive Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target increased by investment analysts at TD Cowen from $51.00 to $53.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 8.02% from the stock’s current price.

FHI has been the topic of several other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Evercore ISI boosted their target price on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Federated Hermes Price Performance

Shares of FHI stock traded up $0.01 during mid-day trading on Tuesday, reaching $49.07. The company’s stock had a trading volume of 178,467 shares, compared to its average volume of 765,941. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The firm’s 50-day moving average is $51.79 and its two-hundred day moving average is $47.45. The company has a market cap of $3.81 billion, a P/E ratio of 10.88, a PEG ratio of 0.54 and a beta of 0.80. Federated Hermes has a 1-year low of $35.05 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. The firm had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. On average, research analysts predict that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $48.54, for a total transaction of $728,100.00. Following the completion of the transaction, the chief executive officer owned 157,039 shares of the company’s stock, valued at approximately $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Federated Hermes by 249.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock valued at $130,446,000 after buying an additional 2,284,509 shares during the period. LSV Asset Management raised its position in shares of Federated Hermes by 77.6% in the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company’s stock worth $87,139,000 after acquiring an additional 859,053 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after purchasing an additional 498,202 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Federated Hermes by 405.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 607,504 shares of the company’s stock valued at $26,925,000 after purchasing an additional 487,281 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Federated Hermes by 267.5% during the second quarter. Ameriprise Financial Inc. now owns 572,738 shares of the company’s stock worth $25,380,000 after purchasing an additional 416,909 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.