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

Federated Hermes (NYSE:FHI) had its price objective raised by investment analysts at Evercore ISI from $41.00 to $43.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 2.72% from the stock’s previous close.

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

Federated Hermes Price Performance

NYSE FHI opened at $41.86 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The firm’s 50 day moving average price is $36.87 and its 200-day moving average price is $34.47. Federated Hermes has a 52-week low of $31.08 and a 52-week high of $42.56. The company has a market cap of $3.42 billion, a PE ratio of 13.46, a P/E/G ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. Federated Hermes’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Sell-side analysts forecast that Federated Hermes will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. 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 this link. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes 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 completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was 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 owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors have recently made changes to their positions in FHI. Vanguard Group Inc. grew its position in Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after buying an additional 45,214 shares during the period. AQR Capital Management LLC boosted its position in Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after purchasing an additional 1,261,097 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after acquiring an additional 324,958 shares during the period. Millennium Management LLC increased its holdings in Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after acquiring an additional 10,552 shares in the last quarter. Finally, Interval Partners LP raised its position in Federated Hermes by 60.4% during the first quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after acquiring an additional 154,370 shares during the period. 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.