TD Cowen Trims Federated Hermes (NYSE:FHI) Target Price to $34.00

Federated Hermes (NYSE:FHI) had its target price cut by TD Cowen from $36.00 to $34.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 5.17% from the company’s current price.

Several other research analysts have also recently commented on FHI. JPMorgan Chase & Co. raised 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 Wednesday, April 17th. UBS Group raised their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Evercore ISI cut their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.57.

Federated Hermes Stock Performance

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

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, meeting analysts’ consensus estimates of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The company had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. Federated Hermes’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Federated Hermes will post 3.6 EPS for the current year.

Insider Transactions at Federated Hermes

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its position in Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after acquiring an additional 307 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Federated Hermes by 216.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock valued at $35,000 after buying an additional 712 shares during the period. Mather Group LLC. bought a new position in Federated Hermes in the 2nd quarter valued at approximately $47,000. Finally, Signaturefd LLC raised its holdings in Federated Hermes by 65.7% in the 4th quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $47,000 after buying an additional 548 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.