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

Federated Hermes (NYSE:FHI) had its target price boosted by research analysts at Evercore ISI from $41.00 to $43.00 in a research 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 2.72% from the stock’s previous close.

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

Federated Hermes Stock Up 3.5 %

Shares of FHI stock opened at $41.86 on Thursday. The stock has a market cap of $3.42 billion, a P/E ratio of 13.46, a PEG ratio of 1.15 and a beta of 1.15. Federated Hermes has a 52 week low of $31.08 and a 52 week high of $42.56. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $36.87 and its two-hundred day simple moving average is $34.47.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Analysts predict that Federated Hermes will post 3.83 EPS for the current fiscal year.

Insider Activity at Federated Hermes

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

Institutional Investors Weigh In On Federated Hermes

Several large investors have recently added to or reduced their stakes in FHI. AQR Capital Management LLC boosted its position in Federated Hermes by 88.3% in 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 period. LSV Asset Management bought a new position in shares of Federated Hermes during the second quarter valued at approximately $11,913,000. Assenagon Asset Management S.A. boosted its stake in shares of Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. AXA S.A. bought a new position in shares of Federated Hermes during the second quarter valued at approximately $6,200,000. Finally, Interval Partners LP boosted 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 purchasing an additional 154,370 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.