Federated Hermes (NYSE:FHI) Stock Gets Price Target Reduction from TD Cowen

Federated Hermes (NYSE:FHI) had its target price dropped by research analysts at TD Cowen from $60.00 to $56.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential downside of 0.58% from the company’s previous close.

Several other brokerages also recently weighed in on FHI. Royal Bank Of Canada raised their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Finally, Wall Street Zen raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and a consensus price target of $57.80.

Federated Hermes Stock Down 0.3%

NYSE:FHI traded down $0.20 on Monday, reaching $56.33. 170,696 shares of the stock traded hands, compared to its average volume of 700,554. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.49 and a beta of 0.66. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. Federated Hermes has a 12 month low of $46.66 and a 12 month high of $67.20. The company’s fifty day simple moving average is $60.74 and its 200 day simple moving average is $58.37.

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

Hedge Funds Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after buying an additional 32,810 shares during the last quarter. Kestra Advisory Services LLC increased its position in Federated Hermes by 6.2% during the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock valued at $27,546,000 after acquiring an additional 28,278 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Federated Hermes by 34.6% during the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock valued at $19,130,000 after acquiring an additional 86,658 shares during the last quarter. Principal Financial Group Inc. increased its position in Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock valued at $9,240,000 after acquiring an additional 6,045 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Federated Hermes by 255.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company’s stock valued at $8,204,000 after acquiring an additional 104,017 shares during the period. 75.94% of the stock is owned by institutional investors.

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.