Evercore ISI Cuts Federated Hermes (NYSE:FHI) Price Target to $37.00

Federated Hermes (NYSE:FHI) had its price target dropped by research analysts at Evercore ISI from $39.00 to $37.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 12.12% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. TD Cowen initiated coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target on the stock. UBS Group lifted their price objective on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.29.

Federated Hermes Trading Up 0.6 %

NYSE:FHI opened at $33.00 on Wednesday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 3.39. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $41.41. The business has a fifty day moving average of $35.40 and a 200-day moving average of $34.08.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities analysts predict that Federated Hermes will post 3.64 earnings per share for the current year.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at approximately $6,441,062.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul A. Uhlman sold 13,820 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares of the company’s stock, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,775 shares of company stock worth $4,032,822. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Federated Hermes

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Federated Hermes by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,753 shares of the company’s stock worth $432,000 after buying an additional 1,886 shares during the last quarter. Taylor Frigon Capital Management LLC grew its position in Federated Hermes by 2.5% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 39,324 shares of the company’s stock worth $1,332,000 after purchasing an additional 944 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Federated Hermes during the 3rd quarter worth about $244,000. Kendall Capital Management raised its position in shares of Federated Hermes by 6.5% during the third quarter. Kendall Capital Management now owns 20,030 shares of the company’s stock valued at $678,000 after buying an additional 1,230 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of Federated Hermes by 1.6% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 92,866 shares of the company’s stock valued at $3,145,000 after buying an additional 1,483 shares during the period. Institutional investors 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.