Federated Hermes (NYSE:FHI) PT Raised to $39.00

Federated Hermes (NYSE:FHI) had its target price raised by analysts at UBS Group from $37.00 to $39.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 9.15% from the company’s previous close.

A number of other brokerages also recently issued reports on FHI. TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Federated Hermes Trading Down 2.3 %

Shares of FHI stock opened at $35.73 on Friday. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $45.55. The firm has a fifty day moving average price of $35.70 and a 200-day moving average price of $34.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.87 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Federated Hermes will post 3.73 earnings per share for the current year.

Insiders Place Their Bets

In other Federated Hermes news, VP Meter Stephen Van sold 1,660 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total value of $60,009.00. Following the sale, the vice president now owns 31,689 shares in the company, valued at approximately $1,145,557.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Meter Stephen Van sold 1,660 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the sale, the vice president now owns 31,689 shares in the company, valued at $1,145,557.35. The disclosure for this sale can be found here. Insiders have sold a total of 115,435 shares of company stock worth $4,092,831 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

Several hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. MA raised its position in shares of Federated Hermes by 1.0% during the 1st quarter. Congress Asset Management Co. MA now owns 50,202 shares of the company’s stock valued at $1,813,000 after buying an additional 518 shares in the last quarter. Foundation Resource Management Inc. raised its position in shares of Federated Hermes by 1.0% during the 1st quarter. Foundation Resource Management Inc. now owns 418,573 shares of the company’s stock valued at $15,119,000 after buying an additional 3,994 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Federated Hermes during the 4th quarter valued at about $1,246,000. Wellington Management Group LLP grew its holdings in Federated Hermes by 59.1% during the 4th quarter. Wellington Management Group LLP now owns 1,813,190 shares of the company’s stock valued at $61,395,000 after purchasing an additional 673,496 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Federated Hermes by 39.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,184,759 shares of the company’s stock valued at $40,116,000 after purchasing an additional 335,737 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.