Federated Hermes (NYSE:FHI) Stock Price Target Cut by TD Cowen

Federated Hermes (NYSE:FHI) had its target price lowered by TD Cowen from $60.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 1.55% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Wall Street Zen upgraded Federated Hermes from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Royal Bank Of Canada upped their price target on Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Evercore reaffirmed an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Finally, Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.80.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $55.15 on Monday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.66. The stock’s 50-day moving average is $60.39 and its 200-day moving average is $58.36. Federated Hermes has a one year low of $46.66 and a one year high of $67.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.19. The company had revenue of $502.78 million during the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%. Federated Hermes’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities analysts predict that Federated Hermes will post 5.54 earnings per share for the current fiscal year.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Federated Hermes by 24.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock worth $52,000 after buying an additional 194 shares during the period. Root Financial Partners LLC grew its position in shares of Federated Hermes by 71.0% during the 1st quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after buying an additional 237 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Federated Hermes by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock worth $1,008,000 after buying an additional 300 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Federated Hermes by 2.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,172 shares of the company’s stock valued at $860,000 after buying an additional 400 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in shares of Federated Hermes by 38.4% during the first quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company’s stock valued at $89,000 after buying an additional 434 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 global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.