Federated Hermes (NYSE:FHI) Price Target Cut to $37.00 by Analysts at Evercore ISI

Federated Hermes (NYSE:FHI) had its target price cut by stock analysts at Evercore ISI from $39.00 to $37.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 12.94% from the stock’s current price.

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

Federated Hermes Price Performance

Shares of FHI stock traded down $0.09 during midday trading on Wednesday, reaching $32.76. 80,896 shares of the company were exchanged, compared to its average volume of 779,255. The company’s 50 day moving average price is $35.50 and its two-hundred day moving average price is $34.10. The company has a market cap of $2.77 billion, a P/E ratio of 9.30, a PEG ratio of 0.77 and a beta of 1.12. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $41.41. 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 (NYSE:FHI) last announced its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Federated Hermes will post 3.74 earnings per share for the current year.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the transaction, the vice president now directly owns 276,084 shares in the company, valued at $9,994,240.80. The disclosure for this sale can be found here. Insiders have sold 113,775 shares of company stock worth $4,032,822 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its position in Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the period. Signaturefd LLC boosted its holdings in shares of Federated Hermes by 69.9% during the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after buying an additional 343 shares during the period. Hexagon Capital Partners LLC grew its stake in Federated Hermes by 216.4% in the 4th 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 last quarter. Neo Ivy Capital Management raised its holdings in Federated Hermes by 637.5% in the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after acquiring an additional 1,224 shares during the period. Finally, Trivant Custom Portfolio Group LLC acquired a new position in Federated Hermes during the 1st quarter worth $76,000. 75.94% of the stock is 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.