Federated Hermes (NYSE:FHI) PT Lowered to $33.00 at TD Cowen

Federated Hermes (NYSE:FHI) had its price target cut by investment analysts at TD Cowen from $34.00 to $33.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential downside of 4.60% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI reduced their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, UBS Group lowered their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

Federated Hermes Price Performance

FHI traded down $0.47 during trading on Monday, hitting $34.59. The company’s stock had a trading volume of 133,823 shares, compared to its average volume of 759,909. The company has a current ratio of 2.75, a quick ratio of 2.45 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.36 and a beta of 1.17. The business’s fifty day simple moving average is $33.02 and its 200 day simple moving average is $34.28. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.10.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts forecast that Federated Hermes will post 3.62 EPS for the current fiscal year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now directly 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 available through the SEC website. Also, VP Paul A. Uhlman sold 975 shares of Federated Hermes stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the transaction, 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. Over the last 90 days, insiders sold 2,361 shares of company stock valued at $76,360. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Several large investors have recently modified their holdings of FHI. Vanguard Group Inc. raised its holdings in Federated Hermes by 0.5% in the 1st 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. Dimensional Fund Advisors LP raised its stake in shares of Federated Hermes by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,410,128 shares of the company’s stock valued at $81,607,000 after acquiring an additional 49,928 shares during the period. Wellington Management Group LLP raised its stake in shares of Federated Hermes by 59.1% in the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after acquiring an additional 673,496 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Federated Hermes by 39.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock worth $40,116,000 after acquiring an additional 335,737 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock worth $37,555,000 after purchasing an additional 324,958 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.