Federated Hermes (NYSE:FHI) Given New $38.00 Price Target at Evercore ISI

Federated Hermes (NYSE:FHI) had its price target decreased by research analysts at Evercore ISI from $42.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 3.15% from the company’s previous close.

A number of other equities research analysts also recently commented on FHI. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. UBS Group upped their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada cut their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.17.

Federated Hermes Trading Down 0.1 %

Shares of NYSE:FHI traded down $0.05 during trading on Friday, hitting $36.84. 97,454 shares of the company’s stock were exchanged, compared to its average volume of 735,003. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.00 billion, a P/E ratio of 11.54, a PEG ratio of 1.00 and a beta of 0.84. The firm has a 50-day moving average price of $38.79 and a two-hundred day moving average price of $39.55. Federated Hermes has a 1-year low of $31.24 and a 1-year high of $43.92.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Equities analysts predict that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its position in Federated Hermes by 4.5% in the 4th quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after buying an additional 253,553 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Federated Hermes by 3.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company’s stock worth $77,626,000 after acquiring an additional 63,664 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Federated Hermes by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock valued at $52,731,000 after purchasing an additional 32,070 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Federated Hermes by 53.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Federated Hermes by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares in the last quarter. 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.