Federated Hermes (NYSE:FHI) Price Target Raised to $54.00 at TD Cowen

Federated Hermes (NYSE:FHI) had its target price hoisted by equities researchers at TD Cowen from $53.00 to $54.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 4.47% from the company’s previous close.

A number of other research analysts have also weighed in on FHI. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research note on Wednesday. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday. JPMorgan Chase & Co. raised their price target on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.20.

Federated Hermes Trading Up 0.8%

Shares of NYSE:FHI traded up $0.39 during midday trading on Wednesday, hitting $51.69. The company had a trading volume of 103,085 shares, compared to its average volume of 495,048. The company has a current ratio of 3.13, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29. Federated Hermes has a 12 month low of $35.05 and a 12 month high of $54.48. The firm has a fifty day simple moving average of $51.23 and a 200 day simple moving average of $50.82. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.54 and a beta of 0.75.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.23. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The firm had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts predict that Federated Hermes will post 4.04 EPS for the current year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 999 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total value of $47,822.13. Following the sale, the vice president owned 88,223 shares in the company, valued at $4,223,235.01. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 4,461 shares of Federated Hermes stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $213,458.85. Following the sale, the chief executive officer directly owned 161,578 shares in the company, valued at $7,731,507.30. The trade was a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,709 shares of company stock valued at $1,049,146. 3.80% of the stock is owned by insiders.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Federated Hermes by 8.3% in the 4th quarter. GAMMA Investing LLC now owns 2,734 shares of the company’s stock valued at $142,000 after buying an additional 210 shares in the last quarter. MAI Capital Management grew its holdings in shares of Federated Hermes by 86.7% in the third quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after acquiring an additional 221 shares in the last quarter. Diversified Trust Co grew its stake in Federated Hermes by 2.6% in the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock valued at $400,000 after purchasing an additional 229 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Federated Hermes by 0.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,934 shares of the company’s stock worth $3,580,000 after buying an additional 272 shares during the last quarter. Finally, Cibc World Market Inc. increased its stake in shares of Federated Hermes by 0.3% during the 3rd quarter. Cibc World Market Inc. now owns 115,930 shares of the company’s stock worth $6,020,000 after purchasing an additional 331 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.